hi there,
i am predominately inquired about what the meaning of discretionary account is.
Discretionary account is an account that allows a broker to buy and sell securities without the client's consent. The client must sign a discretionary disclosure with the broker as documentation of the clients consent.
This is sometimes referred to as a "managed account".
Sometimes broad guidelines are set by the client regarding trading in the account. For example, a client might only permit investments in blue chip stocks.
Posted 7 months ago
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