Brokerage account

Related to Brokerage account: Brokerage Firms

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 ?

For example, regulators fined a major firm $23.3 million under circumstances where it charged a 91-year old client more than $35,000 for just four trades over a period of two years (approximately $8,800 per trade) substantially more than the same client would have paid in a traditional brokerage account. Caveat emptor!

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A 401 (k) lawsuit targeting investment advice and self-directed brokerage accounts was recently brought against Fidelity Management Trust Company (Fidelity) based on the premise that Fidelity is a plan fiduciary because it selects which share classes are made available in the self-directed accounts, thus exercising discretion over plan asset investment (Fleming v.

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It is the policy of the PCC to sell the shares as soon as possible after they are deposited into our brokerage account and to distTibute the proceeds to the donor's designated beneficiary/ies.

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said Wednesday it will launch new debit card services Monday allowing its customers to use their dollar-denominated money market fund at their brokerage accounts for dollar-based settlements of overseas purchases.

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Then, taxpayers, having an expectation that their brokerage accounts are much larger than they really are, can only deduct the actual loss.

Tax consequences to investors of broker fraud and theft: there are a number of ways tax advisers can help clients who are victims of investment fraud or theft. This article discusses the tax issues faced when trying to recoup some of the loss

BrokerageLink is a self-directed brokerage account offered through Fidelity Brokerage Services that became available to Savings Plan participants in January.

Fidelity's BrokerageLink[R] adds another vehicle for retirement savings

When the online brokerage account was introduced in the 1990s, it was expected that this new form of investment would revolutionize the way people handled their stock transactions.

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Clause deposited the sale proceeds into a brokerage account. On February 18, 1997, he purchased securities issued by domestic corporations, totaling $1,399,775, which satisfied the requirement of section 1042(c)(4) as "qualified replacement property."

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Bank Accounts: You can name The VRG as the beneficiary of any checking or savings account, certificate of deposit, mutual fund, or stock from a brokerage account. Your financial institution can provide you with a beneficiary-designation form (also known as a transfer-on-death or pay-on-death form).