What is Discretionary Account?
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””. Read more for examples and further explanation including related video clips and also comments
Example explains Discretionary 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.
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