What Makes an Investment Broker Different from an Investment Advisor?
February 9, 2023
Whether you’ve just started investing or have years of experience, knowing the right people to help you set up your strategy can give you peace of mind and confidence. You don’t have to navigate this process on your own, especially if you can find the right investment professionals to support you.
Surrounding yourself with talented and qualified financial professionals is a wise move, but it can be hard to tell the distinctions between the different kinds of people who may be able to help you with securing a strong financial future.
The roles of a broker and investment advisor are different, and understanding the differences between the two can help you determine the most appropriate financial strategy for you.
One of the leading reasons to turn to outside experts is because you may not have the expertise or time to plan for your retirement or manage your own money. Investing strategies will be different between brokers and investment advisors. Investment advisors usually charge a percentage of the assets managed or a flat fee for advice, whereas a broker receives commission to execute trades to sell or buy securities.
Both professions are required to provide advice that supports the best interests of the clients, but only an investment advisor is a fiduciary, meaning that they have a duty of loyalty and care to carry out things in full and fair disclosure of all facts and not to subordinate their own personal interests with that of the clients.
Contact us today to learn more about getting the help you need with your investing strategy.