Brokers and mutual funds do the same thing: invest your money for you. Is that statement true

Question:

Brokers and do the same thing: invest your money for you. Is that statement true or false? Explain. What kind of financial institution is a mutual fund? What is its distinguishing feature? Describe how savings banks and insurance companies are similar to Mutual Funds
Mutual funds are like a pool of funds gathered by different small investors that have simalar investment perspective about returns on their investments. These funds are managed by professional investment managers who act smartly on behalf of the...