Stockbroker

A stockbroker is a financial professional who deals in the purchase and sale of stocks on behalf of clients, usually on a commission basis. Although the Internet has now made it possible for investors to buy and sell shares themselves for nominal fees, most prefer to engage the services of a stockbroker counting on that individual to be more knowledgeable about market trends and more able to forecast and thus weather the inevitable market downturns.

Stockbrokers quote prices to clients which include either a flat fee or a commission (calculated on a percentage) of the trade to be made. The broker must also provide a quote to the client that includes the best price for the stock currently available on the market. Clients routinely give brokers a degree of discretionary authority to buy and sell stocks on a daily basis while reserving the right to be directly consulted on transactions above a predetermined amount of money or those that will fundamentally change the character of the investor's portfolio.

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