What is Full Service Broker? Definition and Example
What is the Full Service Broker?A full service broker is an individual who provides numerous services to their clients, especially when it comes to tax and financing. The job of the broker is to handle complicated issues on a company, such as the planning of the estate as well as tax management. Just like any other kinds of broker, a full service broker works on commissions paid by the clients or the company.
For your information, to be a full service broker, someone must be highly educated. This job is quite difficult because it is related mostly to financial planning, wealth managements, and taxes. Therefore, if someone wishes to be a service broker, he has to gain expertise by taking further educations and obtaining degree, particularly in the aspect of finance and investment business.
The Full Service Broker DefinitionThe definition of a full service broker is a person who works for a client to provide financial advice, including advices related to investment and wealth management. The broker is the one responsible for making research on the market as well. Besides working for commissions, he also works additional fee provided by the clients.
What Does a Full Service Broker Do?In addition, a full service broker does service on large variety. Basically, everything related to the financial and wealth management of the clients (mostly in the form of company) will be scrutinized and analyzed by the broker. He then provides advices to enhance and stabilize the financial condition of the company. Some of the most important tasks are providing advice on financial planning, facilitating and executing trades, managing portfolios related to wealth management, as well as planning tax tips and managing tax.
Furthermore, the example of a full time broker usage is when a small company does not have enough staff to manage every aspect of its financial. They find it hard to keep up on complicated issues, particularly like taxes. They also find it difficult to execute trade. They then contact a full time broker and establish a working agreement.
The company then provides all the essential information needed by the broker. He starts his job by analyzing the condition of the company financially. Moreover, he then makes some researches and comes up with findings. The findings are mostly in the form of advises given by the company to improve the condition of its financial and wealth management.