The traditional brokerage account is being phased out by many brokerage firms and stockbrokers. Alternatively, they provide what is known as an asset management account. For individuals looking to simplify their money, these hybrid accounts include brokerage, insurance, and banking services.
You might be eligible to benefit from services that are exclusively available to customers with larger account balances by combining your activities. Your monthly statement will also allow you to view all of your financial activity in one location. Additionally, using a linked money market account rather than a standard checking account could result in greater interest rates.