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However, in the 1820s a shift to New York City began and for more than one hundred and fifty years Wall Street has been synonymous with the stockbrokerage business.A number of firms rose to prominence over that time with the top-ranked brokerages in the early 1950s being: Since the 1980s stockbroking firms have also been allowed to be market makers as long as the appropriate Chinese walls are put in place.It typically refers to a room where tele-marketers work, often selling stocks, and using unfair, dishonest sales tactics, sometimes selling fraudulent stocks.The term carries a negative connotation, and is often used to imply high-pressure sales tactics and sometimes, poor working conditions.
In 1790, the country's first stock exchange was founded there and Chestnut Street was home to the nation's most powerful financial institutions.
A stockbroker sells or buys stock on behalf of a customer.
The stockbroker works as an agent matching up stock buyers and sellers.
Roles similar to that of a stockbroker include investment advisor, financial advisor, and probably many others.
A stockbroker may or may not be also an investment advisor, and vice versa.
Acting as a principal Stockbrokers also sometimes or exclusively trade on their own behalf, as a principal, speculating that a share or other financial instrument will increase or decline in price.