Type of Brokers

Brokers are either full-service or discount.

Full-service brokers, as the name implies, give the full range of traditional brokerage services, including financial advice for retirement, healthcare, and everything related to money. They usually only deal with higher-net-worth clients, and they can charge substantial fees, including a percent of your transactions, a percent of your assets they manage, and sometimes a yearly membership fee.

Discount online brokers give you tools to select and place your own transactions. and many of them also offer a set-it-and-forget-it robo-advisory service too.