Which of the following is NOT typically a benefit of using an intermediary?

Choosing increased complexity as the answer reflects an understanding of the role of intermediaries in financial transactions. Intermediaries, such as banks or brokerages, typically aim to simplify processes for their clients by handling aspects such as transaction execution, record-keeping, and compliance with regulatory requirements. This simplification is generally viewed as a benefit because it allows individuals and businesses to engage in financial markets without needing exhaustive knowledge or resources to manage multiple elements on their own.

In contrast, the safety, liquidity, and reduced transaction costs generally characterize the benefits provided by intermediaries. Safety relates to the assurance that financial transactions are conducted securely and within regulated environments. Liquidity refers to the ability of an intermediary to enhance the ease with which assets can be bought or sold. Reduced transaction costs typically arise from economies of scale and the efficiencies that intermediaries can provide in executing large volumes of transactions.

Thus, recognizing that increased complexity is not a benefit but rather a potential drawback reinforces the understanding of why intermediaries exist and the essential functions they serve in facilitating smooth and effective financial transactions.