What type of investment professionals primarily work under the instructions of portfolio managers?

Brokers are investment professionals who act as intermediaries between buyers and sellers in the financial markets. They primarily execute buy and sell orders for securities and can also provide valuable market information to portfolio managers. In many cases, brokers work closely with portfolio managers, following their instructions to optimize the execution of trades and ensure that investment strategies are implemented effectively.

The role of brokers is distinct from that of the other professionals listed. Compliance officers focus on ensuring that financial institutions adhere to regulatory requirements and internal policies. Risk managers assess and mitigate potential financial risks associated with investments but do not typically execute trades. Quantitative analysts create sophisticated models to analyze investment opportunities and optimize portfolios, but they generally do not interact directly with market transactions in the same way brokers do. Thus, brokers are primarily tasked with executing the investment decisions made by portfolio managers.