Registered representative


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Registered representative

A person registered with the CFTC who is employed by and solicits business for a commission house or futures commission merchant.

Broker

A person or firm that conducts transactions on behalf of a client. Some brokers only conduct transactions while others also offer different types of investment advisory services. Brokers derive their profit from commissions on orders given. That is, they usually collect a percentage of the value of each transaction, though some charge flat fees. Clients may give orders in a variety of ways. One may meet with a broker, call on the telephone, or give orders over the Internet. Brokers handle two main types of brokerage accounts: advisory accounts and discretionary accounts. Brokers are only allowed to conduct transactions on advisory accounts on the specific orders of the account holder, or under very specific instructions. On the other hand, they have much more leeway over discretionary accounts, conducting transactions not prohibited by the account holder in accordance with the holder's investment goals and the prudent man rule. In practice, most brokerage firms are in fact broker-dealer firms. Most brokers must register with the SEC.

registered representative

An employee or a partner in a brokerage firm who is registered to handle customer accounts. Also called account executive, broker, customer's man, stockbroker.

Registered representative.

Registered representatives are licensed to act on investors' orders to buy and sell and to provide advice relevant to portfolio transactions.

They may be paid a salary, a commission, usually a percentage of the market price of the investments their clients buy and sell, or by annual fee figured as a percentage of the value of a client's account.

Registered reps work for a broker-dealer that belongs to the exchange or operates in the market where the trades are handled. The reps must pass a series of exams administered by NASD to qualify for their licenses and are subject to NASD oversight.

References in periodicals archive ?
Benjamin Centeno and Jefferey Santohigashi, both formerly registered representatives at Midas Securities, who served as brokers for the same customer and sold 760,000 unregistered shares of iStorage Networks on behalf of that customer.
Cambridge's Independence Highway is a transition program designed for Registered Representatives seeking independence as a new career path.
member FINRA/SIPC, is an independent, privately owned Broker/Dealer with over 1,300 independent Registered Representatives.
We look forward to being a supportive resource to help Investacorp management in their partnership with their talented Registered Representatives, who have a well-known reputation of providing superior financial services solutions and 'best in class' products to their dedicated client base.
This is why when I joined the Investors Capital corporate team, I focused my efforts on developing a health benefits plan that would serve the best interest of all registered representatives.
Since registered representatives access InfoSource through a link on their Broker/Dealer extranet, InfoSource helps us make sure that our product information reaches registered representatives in a convenient and timely fashion," added Tucker.
Mutual Service Corporation (MSC), an independent broker-dealer with more than 1500 registered representatives licensed in all 50 states, has entered into a formal relationship with FP Transitions to provide an array of succession planning services to their reps.
According to Van Lewis III, Chairman and Founder of Sunpoint, this purchase will allow both the expansion necessary to keep pace with the accelerating momentum of the firms business and the ability to maintain the high level of service presently provided to the firms registered representatives and clients.
an independent broker-dealer with more than 260 registered representatives in 36 states, announced that they have entered into a formal relationship with FP Transitions to provide an array of succession planning services to their Reps.
The broker-dealer arm of The Principal(R) is providing access to an exclusive version of the Advisor Workstation platform built exclusively for its registered representatives.
Aimee joins us at an important time, as we're investing in technology and resources to better serve our registered representatives and our customers.

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