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Select the correct term from each box
Complete the paragraph about financial institutions.
handle custodial arrangements, perform asset management, transfer stocks, and make other arrangements for their
own the
they manage, but they have a legal obligation to act in the financial interest of their clients.
Insurance companies
Trust companies
Brokerage firms
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Answer :

GinnyAnswer

Final answer:

Financial institutions like insurance companies, trust companies, and brokerage firms fulfill crucial roles in the economy by managing assets and acting in the best interest of their clients.


Explanation:

Financial institutions such as insurance companies, trust companies, and brokerage firms play vital roles in the economy. They handle custodial arrangements, perform asset management, transfer stocks, and ensure they act in the financial interest of their clients. For example, Insurance companies sell policies that pay out based on specific events like death, while Brokerage firms facilitate the buying and selling of financial assets for clients.


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