Brokerages, and the brokers who work for them, bring buyers and sellers of securities together, and receive a commission for facilitating the sale. Unlike the old days, a trade, or sale, does not require person-to-person interaction. So, not surprisingly, technology is becoming increasingly important, and the distinctions between brokerage firms are blurring.

The updated Moneysmartz Brokerages category includes the major classes of brokerage firms, including "Premium," "Full-Service," and "Discount Brokers." To help differentiate between brokerage firms, visit the SmartMoney Editor Best Best for brokerage rankings. If you need more information about your personal broker, visit FINRA's BrokerCheck to learn more about the background of your investment professional.

If you are averse to technology, or just feel more comfortable working with an individual instead of a computer, most brokerages offer hands-on trading assistance, both on the phone or in person with a local investment professional.

One final note, to get the best per trade rates, embrace technology and learn how to make your trades online, without human assistance.