Full Service Brokers
Full service brokers provide professional advice on how to use investment money and the best investments to make to achieve your individual financial goals. In some cases, a full service broker may take complete control over your investment capital and manage every aspect of buying and selling. Full service stock brokers are sometimes call advisory brokers.
When you use a full service broker, you benefit from the professional advice of the brokerage house, and in some cases, you may even gain access to a team of stock trading professionals dedicated to watching stock markets around the clock to best manage your investment. A full service broker should stay in close contact with you regarding your investments.
For this premium service, you also pay a higher price in brokerage and fees, and using a full service broker is still no guarantee of success. However, it is hard for a regular investor to compete with the knowledge and experience of a good full service stock broker, and the more expensive fees can often be worth it for the profits your investment can achieve under expert tutelage. This is especially the case with larger investments where brokerage fees are minimised with overall returns.
Online full-service brokers are also available, and you may use a combination of online technology and face-to-face advice. In some cases, scheduled meetings are complemented with the use of online technology, SMS updates and email communication. Many full service stock brokers also advertise online and then continue service in a more traditional manner.
The amount of service an online stock broker will provide can differ between each firm and depends on individual scenarios. You may only need one meeting with an online full service broker, and then you may revert to a traditional discount broker service, or you may receive input from a financial advisor at common intervals.
Talk to our list of specialised full service brokers about the options they can provide to your stock trading, and if you are unsure, always talk to a qualified financial professional about full service brokers.