Full-Service
Broker:
Overview,
Pros and
Cons, FAQ
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01
What Is a Full-Service Broker?
A full-service broker is a licensed financial
broker-dealer firm that provides various
services to its clients, including research and
advice, tax tips, retirement planning, and
more. All of it comes at a price, of course, as
commissions at full-service brokerages are
higher than those at discount brokers.
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02
Understanding Full-Service
Brokers
Full-service brokers offer customized support
and interaction in facilitating trades,
managing portfolios, financial planning, and
wealth management services for clients.
Clients are assigned to individual financial
advisors who act as the main point of contact
at a full-service brokerage firm.
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03
Advantages of Full-Service
Brokers
Unlike a full-service mortgage broker, a fullservice financial advisor has large research
departments with analysts that provide
proprietary detailed reports and
recommendations for clients. They also have
investment banking divisions.
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04
What Do Full-Service Brokers
Charge?
A full-service mortgage broker is different
from a full-service broker. In any case, the
latter charges more fees than a discount
brokerage, which will typically only charge
you when you make a trade.
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05
What Do Full-Service Brokers
Do?
Full-service brokers provide their clients
with a personal approach to investing,
whereas a discount broker only provides the
tools needed to make trades. Full-service
brokers also advise you, help you research,
and place the trades for you.
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