Brokerage account

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Brokerage Account

Money given to a broker or brokerage for investment purposes. One manages one's brokerage account differently according to the type of brokerage; that is, one may meet with a broker, call on the telephone, or give orders over the Internet. Brokerage accounts are divided into two main categories: 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, brokers have a great deal 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.

Brokerage account.

To buy and sell securities through a broker-dealer or other financial services firm, you establish an account, generally known as a brokerage account, with that firm.

In a full-service brokerage firm, a registered representative or account executive handles your buy and sell instructions and often provides investment advice.

If your account is with a discount firm, you are more likely to give your orders to the person who answers the telephone when you call.

And if your account is with an online firm, you give orders and get confirmations electronically.

In all three cases, the firm provides updated information on your investment activity and portfolio value, and handles the required paperwork. And in some cases, your brokerage account may be part of a larger package of financial services known as an asset management account.

References in periodicals archive ?
They also are accused of buying and selling thousands of shares of company stock using stolen brokerage account numbers to manipulate company stock values, then profiting from the fluctuating value of shares through their own brokerage account, which operated under the name of Rim Investment Management, Ltd.
To deposit a check via their iPad, clients simply select the Schwab Bank or Schwab brokerage account into which they wish to deposit funds, enter the deposit amount, take a photo of the front and endorsed back of the check and hit submit.
70 per trade, than most online brokers due to the fact that its online brokerage account customers have access to a dedicated Personal Investment Advisor Representative to make trade recommendations and advise on trades and investments.
Under the accord that will be put into practice on May 6, individual investors can open brokerage accounts with Matsui by filling out applications at the branches of Resona Bank, Saitama Resona Bank, Kinki Osaka Bank and Nara Bank that are controlled by Resona Holdings.
The lawsuit alleges that the broker-dealer recommended a stock loan program through the use of Level 3 Communications stock that was held in both retail brokerage accounts and affiliated banks.
The lawsuits allege that various broker-dealers recommended stock loan programs through the use of Level 3 Communications stock that was held in both retail brokerage accounts and affiliated banks.
SAN FRANCISCO, July 11 /PRNewswire/ -- Charles Schwab Bank today unveiled Schwab Bank Investor Checking(TM), an integrated cash management tool that provides investors with a seamless way to manage day-to-day cash needs and move money between their Charles Schwab Bank and Charles Schwab brokerage accounts.
The Company ended the month with brokerage accounts of more than 2.
MILWAUKEE -- MILWAUKEE, March 20 /PRNewswire/ -- Strong Financial Corporation launched a new tool today enabling investors to open brokerage accounts completely online.
Fee-based brokerage accounts first became available in 1999 as a result of a proposed Securities and Exchange Commission (SEC) rule that exempted brokers from certain elements of the Investment Advisers Act of 1940.
Employers are increasingly looking to self-directed brokerage accounts to meet the needs of plan participants desiring expanded investment selection beyond the core investment choices in their plans.
4 million in fees to approximately 1,800 customers who were inappropriately placed or kept in fee-based brokerage accounts.