Kinds of Brokers

> Stock Broker

Stock brokers are part of the stock exchange, and specialise in providing investment advise and trading shares and bonds for their clients. Stock brokers are paid a commission for their services.

> Insurance Broker

Insurance brokers specialise in arranging for their clients insurance coverage at the best deal possible. Since insurance brokers are not affiliated with the insurance companies themselves, they represent the interest of their respective customers.

> Business Broker

These type of brokers are hired by either the buyers and sellers of a business to arrange and negotiate the sale.
When working for a buyer, a business broker gives advise as to which kind of business to purchase according to their client’s particular needs or requirements. Once the type of business is decided, the broker then searches the market for a business that fulfils the client’s specifications. Upon locating a suitable business for their client, the broker then assists in negotiating the terms and conditions of the sale, as well as finding the best financing options available.

A business broker hired to help sell a business is responsible for assessing the value of the business, as well as whether it is to the owner’s advantage to sell at that point in time. If the seller decides to go ahead with the sale, the broker assists with drawing up a marketing plan and locating interested parties.

> Mortgage Broker

A mortgage broker places the borrower under contract with the loan provider. The terms and conditions of the loan itself are not negotiated by the broker; rather, this is handled directly by the mortgage provider. The broker is paid a commission by the borrower if the loan pushes through.

Although high street banks traditionally provide mortgages, the best deals are often found from other equally safe and reliable lenders. Since there are as many mortgage options available as there are lenders, an independent mortgage broker can help you find the mortgage that best meets your needs. More importantly, since they are not affiliated with any specific provider, they can better assist you in determining which options are suited for you.