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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
Among the proposed rules is that a broker-dealer would be required to develop and document training programs for its registered representatives and principals to ensure compliance with the rules requirements and that they understood the features of deferred variable annuities.
The annual awards are presented by CFS as a way to recognize top registered representatives for their dedication to high standards, commitment to superior service and outstanding performance in delivering investment services to members.
Morgan Stanley also failed to conduct training for registered representatives specific to UITs.
It now has over 440 offices and more than 1200 Registered Representatives operating in a classic open architecture environment.
One new registered representative, two new broker/dealers and three new sponsor members were elected to TICA's Board of Directors.
"If you have an IRA and you're not happy with the rate of return, an excellent idea is to roll it over into a variable annuity," says Delamere, who is a registered representative with Aetna Life Insurance and Annuity Co.
During this time the firm has grown from a small full service broker dealer offering financial advice to a global firm offering everything from college and retirement planning to an independent registered representative network, a successful college internship program and extensive online trading through more than 90 market centers in 19 countries with multiple trading platforms, languages and currencies available for trading.
Davis Jr., a registered representative with The Equitable Life Assurance Society in White Plains, N.Y., who helped managers at BLACK ENTERPRISE set up a 401 (k).
In addition to her CFP(R) designation, she has earned the professional designation of Certified Fund Specialist (CFS), Certified in Long Term Care (CLTC), and is a registered representative holding her life, accident, health and long-term care insurance licenses in multiple states.
One approach would be to use some form of questionnaire, much like the one a registered representative must use when establishing a new account for an investment client.
Robertson is a General Securities Principal of the National Association of Securities Dealers, and a Registered Representative and Allied Member of the New York Stock Exchange.

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