Is CMA a brokerage firm?

No. CMA is a registered investment advisor-- not a broker-dealer such as Merrill Lynch or Salomon Smith Barney. Brokerage firms are in the business of selling securities (stocks, bonds, mutual funds) for commissions and/or markups. CMA does not sell securities or investment products of any type. Nor are we compensated by commissions or sales charges in any form. No commissions means no conflicts of interest. Fee-based investment advice and management is our only business.