What is a Broker Dealer and how does it interface with me as an individual investor, and a financial professional I may engage with?

A broker-dealer is a financial firm that acts as both a broker and a dealer. As a broker, the firm buys and sells securities on behalf of clients, earning a commission for its services. As a dealer, the firm buys and sells securities for its own account, earning a profit from the difference between the buying and selling price.

Here are a few examples of well-known broker-dealers:

  1. Goldman Sachs: Goldman Sachs is a global investment bank and financial services firm that acts as a broker-dealer, among other things.
  2. Morgan Stanley: Morgan Stanley is a global financial services firm that acts as a broker-dealer, among other things.
  3. Charles Schwab: Charles Schwab is a financial services firm that offers brokerage and other financial services to individual investors and small businesses.
  4. ETRADE: ETRADE is an online brokerage firm that offers a range of investment products and services to individual investors.
  5. TD Ameritrade: TD Ameritrade is an online brokerage firm that offers a range of investment products and services to individual investors.

These are just a few examples of well-known broker-dealers. There are many other firms that also offer brokerage and other financial services to clients.

What are some other broker dealers – specifically can you name some broker dealers that cater to the professional advisors in the financial industry rather than the end user consumer?

Here are a few examples of broker-dealers that cater to professional advisors in the financial industry, rather than end-user consumers:

  1. Raymond James: Raymond James is a financial services firm that offers brokerage and other financial services to financial advisors and institutions.
  2. LPL Financial: LPL Financial is a broker-dealer that provides investment and financial planning products and services to financial advisors and institutions.
  3. Pershing: Pershing is a global financial services firm that provides brokerage, clearing, and other services to financial advisors and institutions.
  4. Ameriprise Financial: Ameriprise Financial is a financial services firm that provides brokerage and other financial services to financial advisors and institutions.
  5. Edward Jones: Edward Jones is a financial services firm that provides brokerage and other financial services to financial advisors and institutions.

These are just a few examples of broker-dealers that cater to professional advisors in the financial industry. There are many other firms that offer similar services to this market segment.

Are there other broker dealers that are specifically catering to professional money managers and investment advisors?

Yes, there are many broker-dealers that specifically cater to professional money managers and investment advisors. Here are a few examples:

  1. BlackRock: BlackRock is a global investment management firm that provides brokerage and other financial services to investment advisors and institutions.
  2. Fidelity Investments: Fidelity Investments is a financial services firm that provides brokerage and other financial services to investment advisors and institutions.
  3. Invesco: Invesco is a global investment management firm that provides brokerage and other financial services to investment advisors and institutions.
  4. T. Rowe Price: T. Rowe Price is a global investment management firm that provides brokerage and other financial services to investment advisors and institutions.
  5. JPMorgan Chase: JPMorgan Chase is a global financial services firm that provides brokerage and other financial services to investment advisors and institutions.

These are just a few examples of broker-dealers that cater to professional money managers and investment advisors. There are many other firms that offer similar services to this market segment.