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1.
Within certain limits, a stockbroker can offer financial planning advice.
True. Though they don't enjoy the same advice-giving privileges as registered investment advisors, they are allowed to give some advice, within guidelines.
2.
Some financial planners can also buy and sell investments for you.
True. If they have the licenses for it, they can offer this service.
3.
Investment advisers are registered at the national level only.
False. They may be registered at the state level instead, depending upon the amount of assets they manage.
4.
Your financial planner, who is also a licensed stockbroker, receives 2 percent of the amount invested in a mutual fund from the mutual fund company. This is known as _______.
A commission. Some planners who are also licensed insurance agents, stockbrokers, or financial advisors get paid by receiving a percentage of what you invest from the underwriter or investment company.
5.
All financial planners offer the same types of services.
False. The services a planner offers can vary greatly among planners.