Alphabet Broker

DEFINITION of 'Alphabet Broker'

Slang terminology for a large insurance broker that is sometimes referred to according to the initials in its name. An alphabet broker, for example, would be referred to as "HIT" rather than "Hedged Investment Portfolio."

BREAKING DOWN 'Alphabet Broker'

Alphabet brokers are often known through their acronym name rather than the full name. For example, many more individuals are familar with the name AIG rather than American Insurance Group.

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RELATED FAQS
  1. What does "in street name" mean, and why are securities held this way?

    In almost every instance when you buy or sell securities with a broker, your name is not actually on the stock or bond certificate. ... Read Answer >>
  2. I'm new to this. Can I sell or buy stock by myself?

    In order to buy stocks, you need the assistance of a stock broker since you cannot just phone up a company and ask to buy ... Read Answer >>
  3. There are so many stockbrokers out there. How do I go about choosing the best one ...

    If you decide that you have the knowledge and experience to take on stock investing, or if you feel you would like to give ... Read Answer >>
  4. Why do brokers ask for personal information before they make any trades?

    According to the Securities and Exchange Commission (SEC), there are three main reasons why a broker will ask for personal ... Read Answer >>
  5. Does a broker always have to buy a stock if I want to sell it?

    There are certain times when a broker must purchase the stock that you are selling. For example, if the broker is a market ... Read Answer >>
  6. What is the difference between a broker and a market maker?

    A broker is an intermediary who has a license to buy and sell securities on a client's behalf. Stockbrokers coordinate contracts ... Read Answer >>
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