Which type of brokerage typically does not provide investment advice?

Discount brokerages primarily focus on executing trades and do not offer personalized investment advice or comprehensive financial planning services. Their primary model is based on providing clients with the tools necessary to trade independently, often at a lower cost than full-service brokerages. They cater to investors who prefer to make their own investment decisions and conduct their own research, providing a platform for trading stocks, bonds, and other securities without the added layer of guidance.

In contrast, full-service brokerages provide a wide range of services, including personalized investment advice, portfolio management, and financial planning, making them suitable for investors seeking more comprehensive support. Insurance brokerages focus on selling insurance products, and credit unions primarily provide savings and loan products rather than investment services. Thus, the distinguishing characteristic of discount brokerages lies in their self-directed investing model, which does not involve offering investment advice.