See: Best Execution.
Think of Execution Only as a fancy, computer-driven robot. It's kind of like Disneyland filled with these robots, each of whom does one thing only: they execute trades. That is, in the Magic Kingdom of these securities, there is no stock advice, no tax optimization, no free Lakers tickets for those managing over $10M. The only thing this Magic Kingdom does is execute trades...sort of like those new Amazon kiosks, which carry the 18 things you actually need all the time.
Related or Semi-related Video
Finance: What is a Full-Service Broker?3 Views
Finance a la shmoop what is a full-service broker? full-service
"everything" close relative of the bulge bracket remember those guys want
to trade stocks here at this full service brokerage well you got it [Clipboard appears with checklist]
how about trading some bonds yep need investment advice hoo you bet we got rap
accounts here too does it have to be good advice well it's different gonna
retire well they'll suggest Goodyear or fire stone or Michelin if they're you
know socialist and European gonna quit working and play golf all day well then [Man playing golf]
a full service broker has advice for that as well want tax planning yep
referrals to other professionals like estate planning lawyers and that kind of
stuff got a kid heading to college in a decade all right well it's time to talk
529 savings plan got a grandparent dying soon whoo time to talk IRA distributions
and charity need Warriors tickets yeah what well they're full service they just
build they'll charge you for it but they're full full something [State Warriors basketball team playing a game]
Up Next
What does a stockbroker do? Stockbrokers use money from investors to invest in the stock market. Their first job is to go out and find these client...
What is a Broker-Dealer? A broker-dealer trades for both its own account and for the accounts of its clients. It acts as a broker when it buys and...
What is a Floor Broker vs. Floor Trader? Both floor brokers and floor traders execute trades on the exchange floor, the difference is who they exec...