Question

Identify the differences between a full-service brokerage firm, a discount brokerage firm, and a portfolio manager.

Answer 1

Traditional/full service brokerage firms help you invest in stocks, bonds, funds, and other investments and also offer a wide range of financial services like tax advice, planning for retirement, etc.

Discount brokerage firms help you facilitate stock trades and other transactions but do not usually offer additional services or planning advice.

A portfolio manager is the person who makes investment decisions on behalf of clients (either individuals or businesses)

Answer 2

The three are career options in the investment field but the difference is the amount of services they offer.

Step-by-step explanation:

-A full-service brokerage firm provides many services to its clients like helping with financial planning, managing portfolios and executing trades while also assisting with tax and estate planning.

-A discount brokerage firm is a stockbroker that helps to buy and sell orders for its clients but it doesn't provide consulting services for them.

-A portfolio manager is a person that takes care of investing activities and decisions for its clients in a fund.