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LSDefine

Simple English definitions for legal terms

discretionary account

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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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General

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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