What is the difference between the two.both are defined on page 190 of CFAI text.
Say an investment manager decides to execute trades through a broker,the broker gets commission and brokerage?which is defined as amount on any trade retained by broker to be used directly or indirectly as payment For execution services… Isn’t commission paid for execution services.?
it’s the same thing. Brokers get paid commissions.
I believe they are not the same. Will read it again to verify.
brokerage is the property of client that must generate some benefit to him, direct or over time, when being used to generate commissions through trading.
is this soft vs hard dollar commission? I haven’t gone through ethics yet =X