A stockbroker, or an investment broker, investment adviser, financial adviser or wealth manager is a regulated broker, broker-dealer, or registered investment adviser.
Stock brokers provide financial advisory and investment management services and execute transactions; such as the purchase or sale of stocks and other investments, to financial market participants in return for a commission, markup, or fee.
Stockbrokers in Australia must hold a licence that is overseen by ASIC (the Australian Securities and Investments Commission), and are subject to fiduciary obligations.
The first recorded buying and selling of shares occurred in Rome in the 2nd century BC. After the fall of the Western Roman Empire, stockbroking did not become a profession until after the Renaissance, when government bonds were traded Italy.