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 ?
"Some of my clients have bought policies with a cash-value investment account," he says.
Now the bank s customers having current or savings account in UAE dirhams or US dollars will be able to open a Gold Investment Account for purchasing gold in electronic form.
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We would like to clarify that the Gold Investment Account is similar to any other foreign currency account, which is designated with the currency code 'XAU' and denominated in troy ounces.
If the custodian dies before Susie turns 21, the property in the investment account is included in the custodian's gross estate if the custodian created the investment account for Susie.
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The Gold Investment Account is the first of its kind in the region, and facilitates retail banking customers to invest in gold savings, without the additional risk and costs associated with storing and moving physical gold.
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Judge Christopher Sontchi said in his June 28 decision that the entire $120 million pooled investment account held in the name of the diocese should be considered diocesan assets, even though the diocese said it has only $45 million of its own money in the account.