the.com/brokers
middlemen who get paid whether your deal is good or catastrophic for you.
means a broker is a licensed intermediary who connects buyers and sellers of stocks, homes, insurance, or other assets, for a fee or commission.
from from old french brocheur, someone who taps a wine cask to sell it by the glass — a person who profits from the transaction itself, not the product.
commission biasthey earn more when you trade more, not when you win
dual purposecan represent both buyer and seller in one deal
origin trademedieval brokers literally sold wine by the cup
fiduciary gapnot all brokers are legally required to act in your interest
for instance
charles schwab — pioneered discount brokerage, cut commissions in 1975
lloyd's of london — insurance brokers have matched risk to capital since 1688
realtor mls system — real estate brokers control access to multiple listing data
robinhood — made trades commission free by selling order flow instead, 2013