Also known as an "investment banker" or "distributor," a middleman between an issuing corporation and the public. The underwriter usually forms an underwriting group, called a syndicate, to limit risk and commitment of capital. He or she may also contract with selling groups to help distribute the issue-for a concession. In the distribution of mutual funds, the underwriter may also be known as a "sponsor," "distributor," or even "wholesaler." Investment bankers also offer other services, such as advice and counsel on the raising and investment of capital.