Full-Service Broker

A broker that provides a large variety of services to its clients, including research and advice, retirement planning, tax tips, and much more. Of course, this all comes at a price, as commissions at full-service brokerages are much higher than those at discount brokers.

Investopedia Says:
Full-service brokers sometimes get a bad rap, but they can be extremely useful for their expertise. Remember, they do much more than just place trades. Most people don't have the time to stay up-to-date on complicated issues such as tax or estate planning.

However, if you simply want to execute trades without the extra services, discount brokers are the way to go.

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Broker who provides a wide range of services to clients. Unlike aDiscount Broker who just executes trades, a full-service broker offers advice on which stocks, bonds, commodities, and mutual funds to buy or sell. A full-service broker may also offer an Asset Management Account advice on financial planning, tax shelters, and Income Limited Partnerships and new issues of stock. A full-service broker's commissions will be higher than those of a discount broker. The term brokerage is gradually being replaced by variations of the term financial services as the range of services offered by brokers expands.

Bank or brokerage firm offering investors a full line of brokerage, asset management services, and investment advice. Full-service firms generally have a research department that furnishes reports to institutional clients and retail clients, and a buy or recommended list for all clients. Discount Brokerage firms, in contrast, only execute orders to buy or sell securities.