Which of the following best describes the role of an investment firm in a secondary offering?

An investment firm's role in a secondary offering is primarily to facilitate the sale of securities that are already held by existing shareholders rather than those issued directly by the company. In a secondary offering, these firms act as intermediaries, helping to sell shares owned by individuals or institutions to new investors on the public market. This process provides liquidity for the current shareholders while also allowing new buyers to enter the market.

The option mentioned accurately captures this role by highlighting that investment firms sell securities held by individual owners to the market. This is a critical function as it supports market efficiency by allowing for the transfer of ownership of shares without the company needing to issue new stock, which can influence the market's overall supply and demand dynamics.