Final answer:
When investing in stocks, you have several options for the type of broker to assist you, including full-service brokers, discount brokers, robo-advisors, and financial planners.
Step-by-step explanation:
When looking for a broker to assist you in purchasing stocks, there are several options to consider:
A. Full-service broker: This type of broker provides comprehensive investment services, including personalized advice, research, and portfolio management. They typically charge higher fees for their services.
B. Discount broker: A discount broker offers fewer services compared to a full-service broker, but they usually have lower fees. They may provide online trading platforms and basic research tools.
C. Robo-advisor: A robo-advisor is a digital platform that uses algorithms to create and manage investment portfolios. They provide automated investment advice and typically have lower fees than full-service brokers.
D. Financial planner: A financial planner can help you with various aspects of your financial life, including investing in stocks. They offer comprehensive financial planning services and can provide personalized advice.
The type of broker you should look for depends on your individual needs, preferences, and budget. If you require personalized advice and are willing to pay higher fees, a full-service broker or financial planner might be the best choice. If you prefer lower fees and are comfortable making your own investment decisions, a discount broker or robo-advisor could be suitable.