Discretionary account


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Related to Discretionary account: Quarter on Quarter

Discretionary account

Account over which an individual or organization, other than the person in whose name the account is carried, exercises trading authority or control.

Discretionary Account

A brokerage account in which a broker is able to make decisions without the need to consult others. For example, a discretionary account gives a broker the right to make significant investment decisions without permission from or even consultation with the account's owner. However, decisions made on a discretionary account must be made in accordance with the client's stated investment goals and according to the prudent man principle.

discretionary account

A brokerage account in which the customer permits the broker to act on the customer's behalf in buying and selling securities. The broker may decide upon securities, prices, and timing—subject to any limitations specified in the agreement. Because a discretionary account can be quite risky, it should be avoided unless the customer has a great deal of confidence in the broker. Also called controlled account. Compare advisory account. See also limited discretion.

Discretionary account.

A discretionary account is a type of brokerage account in which clients authorize their brokers to buy and sell securities on their behalf without prior consent for each transaction.

A client may set guidelines for the account, such as the types of securities the broker may purchase. However, the broker can buy and sell shares at his or her discretion.

Managed accounts -- also called separate accounts and wrap accounts -- are one type of discretionary account.

References in periodicals archive ?
clients could invest in Apple s Managed Discretionary Account (MDA), when in fact Apple did not offer a MDA, and was not authorised to do so; Apple s Managed Fund had earned profit of 41.
person, (vii) any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated, or (if an individual) resident in the United States, and (viii) any partnership or corporation if (A) organized or incorporated under the laws of any foreign jurisdiction and (B) formed by a U.
In sum, the alleged scheme entailed the activities of Kelley, in conspiracy with MSGI and certain of its affiliates, to manipulate and support or increase, to artificial levels, the market price of MSGI stock, to conceal from Class Members at the times of the purchase of MSGI stock in their accounts the complete adverse financial information about MSGI and its prospects, to engage in a pattern and practice of putting customer accounts into MSGI stock without compliance with discretionary account trading requirements and without compliance with the suitability rule and without proper pre-purchase disclosures, and the corporate defendants' breaches of their duties of supervision and prevention of Kelley's wrongful activities.
with respect to shares held in a discretionary account managed by it) announce that they have recently in the aggregate acquired 336,850 common shares of NQL Drilling Tools, Inc.
with respect to shares held in a discretionary account managed by it) announce that they today in the aggregate acquired 200,000 common shares of Trican Oilwell Service LTD through the facilities of The Toronto Stock Exchange.
with respect to shares held in a discretionary account managed by it) announce that they today in the aggregate acquired 91,700 common shares of Trican Oilwell Service LTD through the facilities of The Toronto Stock Exchange.
According to the SEC's cease-and-desist order against Robert Wilson and his firm Black Diamond Asset Management, Wilson initially registered by claiming that Black Diamond had more than $583 million in assets under management and at least 26 discretionary accounts, but a year later changed the firm's Form ADV to claim eligibility as a midsize advisor with $25 million to $100 million in AUM domiciled in New York and/or Wyoming.
Some 62% of Tilney Bestinvests assets are managed through a combination of bespoke discretionary accounts, a centralised managed portfolio service and its Multi-Asset Portfolio OEIC range.
Congress and the president could choose to put more pressure on mandatory spending programs and thus perhaps ease the pressure on discretionary accounts, or vice versa.
Ryan and Murray are the co-chairs of the 29-member congressional conference panel that was assigned the task of finding savings to offset 2014 and 2015 sequester hits for discretionary accounts.
This means that each year the appropriations committees in Congress will have $109 billion less than the amounts they anticipated--and specifically that each year there will be at least $33 billion less for non-defense discretionary accounts, including the one that funds the department of Health and Human Services (including the CDC).
Based in New York City, Scarsdale Equities is an institutional FINRA-member broker/dealer and SIPC member, offering investment banking, discretionary accounts management and institutional equity trading services.