Fiduciary services involve acting in the client's best interest, while customer-level services offer limited representation. Agency services provide extensive support and advocacy. Hilda's choice impacts the services she receives from the broker.
Fiduciary services are responsibilities that come with a fiduciary relationship, where one party has the duty to act in the best interest of another party. In the context of a full-service stockbroker, this means the broker must make trades beneficial to the client, prioritizing their interests over any others.
By not entering an agency relationship with a broker, Hilda may receive customer-level services, where she can still engage with the broker but does not receive the same level of representation and advocacy as with an agency relationship. This could include general information about properties without personalized advice or negotiation on her behalf.
On the other hand, if Hilda had chosen to establish an agency relationship with the broker, she would have access to agency services that involve the broker working on her behalf to find the right properties, negotiate deals, and provide guidance throughout the real estate transaction process.
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