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LSDefine

Simple English definitions for legal terms

discretionary account

Read a random definition: Great Writ

A quick definition of discretionary account:

A discretionary account is when a customer gives a broker permission to buy and sell stocks or other investments without having to ask for permission every time. The broker uses their own judgment to make decisions on behalf of the customer.

A more thorough explanation:

A discretionary account is a type of account that allows a broker to buy and sell securities or commodities on behalf of a customer without first obtaining the customer's consent. The broker has the authority to make decisions based on their own judgment and expertise.

For example, if a customer has a discretionary account with a broker, the broker can make trades on their behalf without having to ask for permission every time. This can be beneficial for customers who trust their broker's expertise and want to take advantage of market opportunities quickly.

However, it's important for customers to understand the risks involved with a discretionary account. Since the broker has the authority to make trades without the customer's consent, there is a potential for the broker to make decisions that may not align with the customer's goals or risk tolerance.

Overall, a discretionary account can be a useful tool for experienced investors who trust their broker's judgment, but it's important to carefully consider the risks and benefits before opening one.

discretion, abuse of | discretionary power

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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