Advisory Broker

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Advisory Broker

A broker or brokerage that, in addition to making trades on behalf of the client, provides investment advice. That is, the advisory broker recommends the client buys or sells certain securities, in accordance with his/her investment goals. The advisory broker receives a fee in addition to the commissions given for the actual trades.
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Mr de las Cuevas said that the costs involved in administering suitability tests would be so high as to force firms to become discretionary or advisory brokers.
He added, "This recognition further supports our goal to offer our clients the convenience of a local insurance firm that incorporates the breadth of products, expertise, and market strength of one of America's oldest and largest insurance advisory brokers.
Our goal is to offer Palm Beach Insurance Group clients the convenience of a local insurance firm that incorporates the breadth of products, expertise, and market strength of one of America's oldest and largest insurance advisory brokers," said Ray Celedinas, President and CEO of The Celedinas Insurance Group.
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