Final answer:
Independent contractors at a brokerage firm are expected to have autonomy, they must supply their own work tools, and they are responsible for managing their own tax obligations. They operate with more freedom than employees but are required to handle more of their own business logistics, including securing benefits and equipment.
Step-by-step explanation:
Independent contractors in a brokerage firm would be expected to have a high level of autonomy, to furnish their own tools, and to manage their own tax obligations.
As independent contractors, individuals are responsible for their own business operations, which differs from employees who typically receive more support from the company they work for. Independent contractors usually have the freedom to set their own schedules, choose their clients, and operate their businesses as they see fit. This flexibility generally extends to decisions about how to accomplish tasks, representing a significant difference from salaried employees, who are generally expected to follow company procedures closely.
Furthermore, since they are not formal employees, independent contractors must handle their own taxes, including payment of self-employment taxes, and typically do not receive benefits such as health insurance or retirement plans from the brokerage firm. Therefore, they must often secure their own benefits independently. Finally, contractors often must provide their own equipment or tools necessary for their work, rather than relying on the brokerage firm to supply them.