Explicitly define the following terms
1. Farmers agent
2. stock broker
3. Jobbers
4. An issuing house
1. A Farmers agent is an individual who represents the Farmers Insurance Group, a provider of various insurance and financial services. They are employed by Farmers and act as intermediaries between the company and potential clients, advising and selling insurance policies to meet their clients' needs.
2. A stock broker is a professional who facilitates the buying and selling of stocks, bonds, and other securities on behalf of their clients. They may work for brokerage firms or operate independently. Stock brokers analyze market trends, provide investment advice, execute trades, and help clients build and manage investment portfolios.
3. Jobbers, or stock jobbers, are individuals or firms involved in the buying and selling of securities, primarily stocks, on the stock exchange. They act as intermediaries, purchasing securities from selling shareholders and selling them to buying shareholders. Jobbers typically make profits through the spread between the buying and selling prices of securities.
4. An issuing house, also known as an underwriting firm, is a financial institution that assists companies in issuing securities, such as stocks or bonds, to the public. They play a crucial role in the primary market, where new securities are offered to investors for the first time. Issuing houses help companies determine the appropriate price for their securities, facilitate the regulatory process, handle subscription and allocation of securities, and ensure successful distribution to the market.