A Broker-Dealer is a term used in United States financial services regulations. It is a natural person, a company or other organization that trades securities for its own account or on behalf of its customers. Although many Broker-Dealers are "independent" firms solely involved in Broker-Dealer services, many others are business units or subsidiaries of commercial banks, investment banks or investment companies. Packerland Brokerage Services is a privately-owned, independent firm solely involved in Broker-Dealer services.

In the United States, Broker-Dealers are regulated under the Securities Exchange Act of 1934 by the Securities and Exchange Commission (SEC), a unit of the U.S. government. Some regulatory authority is further delegated to the Financial Industry Regulatory Authority (FINRA), a self-regulatory organization. Many states also regulate Broker-Dealers under separate state securities laws (called "blue sky laws").

The term Registered Investment Adviser (RIA) is used to describe an Investment Adviser who is registered with the Securities and Exchange Commission or a state's securities agency. The term has been popularized due to its use within the Investment Advisers Act of 1940 and its association to the term "Investment Advisor" (IA) (spelled "Investment Adviser" in U.S. financial law). An IA is defined by the Securities and Exchange Commission as an individual or a firm that is in the business of giving advice about securities.

Individuals or firms that receive compensation for giving advice on investing in securities such as stocks, bonds, mutual funds, or exchange traded funds are deemed to be investment advisers. It is also common for investment advisers to manage portfolios of securities. RIAs generally are paid in any of the following ways: a percentage of the value of the assets they manage for clients, an hourly fee, fixed fee, a commission on the securities they sell (if the adviser is also a Broker-Dealer).


I enjoy working with Packerland because it’s a hometown Broker-Dealer where you have full flexibility, and most importantly you are valued as a person.

Brian V. | Packerland Representative