Explore the role of a full-service broker, the range of personalised services offered, and how it differs from discount brokerage models.
A Full Service Broker is a type of stockbroker or brokerage firm that provides a wide range of investment services and financial advice beyond just buying and selling securities.
Unlike discount brokers, full service brokers offer personalised investment recommendations, research support, portfolio management, and wealth planning, catering especially to investors who prefer professional assistance over DIY trading.
A Full Service Broker provides comprehensive trading and advisory services to clients in exchange for higher brokerage fees or commissions.
They help investors with:
Investment strategy and portfolio management.
Market and research reports.
Financial planning for retirement, tax, and insurance.
Wealth management and asset allocation.
A Full Service Broker is a registered financial intermediary that executes trades, offers investment advice, and provides a suite of financial services to clients for a fee.
Full service brokers combine human expertise and research-based insights to help clients make informed investment decisions.
Here’s how they typically operate:
Client Profiling:
Assess investor goals, risk tolerance, and financial objectives.
Research & Advisory:
Recommend stocks, mutual funds, or bonds using in-house analysts’ research.
Trade Execution:
Place buy/sell orders on behalf of clients through trading platforms.
Portfolio Monitoring:
Regularly review investments and rebalance portfolios based on market trends.
Reporting & Review:
Provide periodic reports, performance summaries, and strategy updates.
A full service broker provides end-to-end investment support, combining expert advice, research access, and multi-asset trading assistance under one platform.
Personalised financial advice and recommendations.
Dedicated relationship managers or advisors.
Access to detailed research reports and analyst insights.
Assistance with IPOs, mutual funds, ETFs, and bonds.
Integrated wealth management and retirement planning services.
Online and offline trading support with real-time updates.
These features make full service brokers suitable for investors who value professional guidance over lower costs.
Some of the full service brokers in India include:
Bajaj Financial Securities Limited
Kotak Securities
IIFL Capital
Axis Direct
These brokers can offer research-backed recommendations, wealth products, and advisory solutions to both retail and high-net-worth clients.
Full service brokers offer a personalised and guided investment experience, combining expert advice with comprehensive financial services.
| Advantage | Description |
|---|---|
| Expert Guidance |
Professional advice tailored to financial goals. |
| Comprehensive Services |
Covers trading, research, wealth planning, and insurance. |
| Research Access |
Clients receive proprietary reports and stock analyses. |
| Convenience |
End-to-end assistance — from investment to execution. |
| Relationship Management |
Dedicated advisors simplify decision-making. |
Typically suitable for busy professionals or investors who prefer hands-off portfolio management.
Despite their comprehensive services, full service brokers may not suit investors seeking low-cost, independent, or technology-driven trading options.
| Limitation | Explanation |
|---|---|
| Higher Costs |
Brokerage fees are higher than discount brokers. |
| Less Control |
Investors rely heavily on advisors’ judgment. |
| Potential Conflicts of Interest |
Some recommendations may favor brokerage revenues. |
| Technology Lag |
Platforms may not be as agile as discount brokers’. |
For cost-sensitive or experienced traders, discount brokers may be more suitable.
Full service brokers typically charge higher fees due to their advisory support, research access, and personalised investment services. Below are the different types of charges associated with some of the full service brokers available on Bajaj Markets.
| Broker | Account Opening Fee (₹) | Delivery Brokerage | Intraday Brokerage | AMC Charges |
|---|---|---|---|---|
| Bajaj Financial Securities Limited |
0 |
₹ 20 |
₹ 20 |
Free for 1st year |
| SBI Securities Limited |
0 |
0.20% |
0 |
Free for 1st year |
| Aditya Birla Money Limited |
0 |
0.12% |
0.012% |
Lifetime AMC at ₹ 999 |
| Yes Securities Limited |
0 |
0.20% |
0.02% |
Free for 1st year |
| Motilal Oswal |
0 |
0.35% |
0.035% |
Free for 1st year |
* Data updated as on 1st Oct 2025.
Note: Charges may vary by plan and customer segment.
Full service and discount brokers differ mainly in cost structure, service depth, and investor support, catering to distinct trading and investment preferences.
| Aspect | Full Service Broker | Discount Broker |
|---|---|---|
| Services Offered |
Advisory, research, trading, wealth management |
Trading only |
| Brokerage Fees |
Higher (percentage-based) |
Lower (flat or zero) |
| Advisory Support |
Yes – dedicated advisors |
No personal advisory |
| Target Investor |
Long-term, guided investors |
Active, cost-focused traders |
| Examples |
SBI Securities, Kotak Securities etc. |
Zerodha, Groww, Upstox etc. |
Full service brokers focus on advisory-driven, relationship-based investing, while discount brokers prioritise low-cost, self-directed trading.
Full-service brokers combine market expertise, advisory services, and execution support to deliver a comprehensive investing experience. They suit investors who value guidance and personalised attention.
A Full Service Broker provides complete investment support — from research to execution and financial planning.
They’re suitable for investors seeking professional expertise and hands-on portfolio management.
However, these benefits come with higher fees compared to discount brokers.
Always evaluate your investment style, experience, and cost sensitivity before choosing a broker.
This content is for informational purposes only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.
A full-service broker is a financial intermediary that provides a wide range of investment and advisory services to clients for a fee. These services go beyond basic trade execution and include research, portfolio advice, and wealth management.
Full-service brokers typically offer stock trading, investment advisory, equity research, portfolio management, financial planning, tax assistance, and access to initial public offerings (IPOs) and other investment products.
Some full-service brokers in India include Bajaj Financial Securities Limited, SBI Securities Limited, Aditya Birla Money Limited, Yes Securities Limited, Motilal Oswal, Kotak Securities, IIFL Capital and Axis Direct. These firms combine trading platforms with research and advisory support.
The main benefits include access to professional investment advice, detailed research reports, personalised financial planning, and active portfolio management. Such services are particularly useful for investors seeking expert guidance rather than self-directed trading.
Full-service brokers provide comprehensive advisory and research-based services, charging higher fees or commissions for personalised support. Discount brokers, on the other hand, focus on low-cost online trade execution without offering in-depth advisory or portfolio management services.
Anshika brings 7+ years of experience in stock market operations, project management, and investment banking processes. She has led cross-functional initiatives and managed the delivery of digital investment portals. Backed by industry certifications, she holds a strong foundation in financial operations. With deep expertise in capital markets, she connects strategy with execution, ensuring compliance to deliver impact.
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