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In general, people grant trading authorization to a spouse, another family member or possibly another trusted person. A trade authorization gives the person you designate the authority to do any or all of the following in your account: Buy, sell and trade your securities.
In general, people grant trading authorization to a spouse, another family member or possibly another trusted person. A trade authorization gives the person you designate the authority to do any or all of the following in your account: Buy, sell and trade your securities.
Which of the following parties of an account can give trading authorization to another party? Since only Second Parties can open accounts, only a Second Party can give trading authorization to either a First Party (a discretionary account) or to a Third Party (a Third Party trading authorization).
While non-discretionary expenses are considered mandatory\u2014housing, taxes, debt, and groceries\u2014discretionary expenses are any costs incurred above and beyond what is deemed necessary. These are generally considered wants, while non-discretionary expenses are usually referred to as needs.
The broker must mark each trade as either \u201csolicited,\u201d which means the trade was the broker's idea, or \u201cunsolicited,\u201d which means the trade was the client's idea. As a general rule, a broker who handles a discretionary account owes a higher level of fiduciary duty to his or her client.
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Trading authorization refers to the conferral of exclusive rights to a trading agent or a broker to manage and control a client's investment accounts. With trading authorization, a third-party agent holds exclusive rights to conduct and manage all of the account's activities according to the client's objectives.
Understanding Discretionary Accounts For example, a client might only permit investments in blue-chip stocks. An investor who favors socially responsible investing may forbid the broker from investing in tobacco company stock or in companies with poor environmental records.
In general, people grant trading authorization to a spouse, another family member or possibly another trusted person. A trade authorization gives the person you designate the authority to do any or all of the following in your account: Buy, sell and trade your securities.
\u201cDiscretion\u201d in this context refers to discretionary trading, which is when a broker makes trades in a customer's account without first consulting the customer. That generally means the broker can decide at any time how much of a stock, bond or other security to buy or sell, and at what price, without customer input.
Limited trade authorization is a level of discretionary trading authorization that gives an agent or broker the power to place orders or make inquiries concerning a client's account. Limited trading authorization allows the agent to act on behalf of an investor, but does not allow for the disbursement of account funds.

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