independent broker

Independent broker

NYSE member who executes orders for floor brokers and firms other than its own.

Two-Dollar Broker

A broker who conducts trades for another broker's client because the second broker is too busy to do so. The commission the client pays goes to his/her own broker, but the two dollar broker receives a portion from the other broker. Originally, this commission was $2, but now it is negotiated between the two brokers.

independent broker

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References in periodicals archive ?
Life App Express is averaging about 3,560 unique producer and independent broker visits per month, and the company reported an initial 50% increase in new cases since its launch.
Friends and relatives referred Thomas to Fields, the independent broker with National Securities: "At our first meeting," recalls Thomas, "he didn't try to sell me anything.
Once having identified a likely trade, the manager must hire an independent broker to perform the trade, since by law neither the manager nor an affiliate can do so.
We are pleased to have Eric join our recruiting team as Signator continues to grow as an independent broker dealer," said Heapps.
Distribution: Career agents, independent brokers, wirehouses, banks, other financial institutions, regional independent broker-dealers
Additional metrics from the InvestmentNews survey show comparable success, demonstrating Centaurus Financial's leadership amongst independent broker dealers based on the success achieved by the independent financial advisors associated with the firm.
Search engine results for the search phrase "top independent broker dealers" and numerous others phrases rank Investors Capital Corporation in the top broker/dealer spot due to the firm's recent focus on Search Engine Optimization (SEO).
New Structure Allows Memphis-Based Brokerage Firm to Capitalize on a Growing Trend toward Independent Broker Arrangements, Yielding Broader Coverage and Faster Growth for the Company
Investors Capital Corporation, the independent broker dealer of Investors Capital Holdings (AMEX: ICH), today announced that it has hired Philip May, Marc Effron, Doug Wallace and Bart Liro to join the company's recruitment division.
Bank of America Corp (NYSE: BAC) has said that it would avoid offering mortgages through independent brokers.
This is the kind of advantage that independent brokers provide because their very livelihood is tied to the firm through personal ownership--and their clients' success means their success.
The first group was previously known as Independent Brokers, but is currently working on a new name because of concerns that even large firms have independent brokers.

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