What do appointed representatives primarily do?

Appointed representatives primarily act as agents of authorized firms. This role allows them to carry out certain financial services or activities on behalf of these authorized firms under a specific agreement. They do not operate independently but instead rely on the regulatory approval and backing of the firm they represent to engage in the provision of services, including financial advice or transactions.

This relationship is crucial in the financial services industry because it ensures that appointed representatives adhere to the standards and regulations set forth by the authorized firm and the regulatory authority. It effectively extends the firm's reach while maintaining accountability and compliance with financial regulations.

In contrast, independent trading, unbiased investment advice, or portfolio management are not roles typically designated to appointed representatives, as these positions would imply a level of autonomy and responsibility that does not align with the nature of their function under an authorized firm.