Over 700 finance terms, Shmooped to perfection.
A full-service broker does "everything", that is they don't have one niche like currency trading or muni bonds that they really only sell. A full service broker typically offers all financial instruments, including options. They usually are paid through commissions, which tend to be higher than brokers who just exist to fill orders, so their long-term success can also depend on their ability to offer tea and sympathy when their clients' investments head south. Some also dispense back rubs on bad market days to their bestest clients.