This is sometimes referred to as a "managed account".
Sometimes broad guidelines are set by the client regarding trading in the account. For example, a client might only permit investments in blue chip stocks.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
discretionary account — An arrangement by which the holder of the account gives written power of attorney to another person, often his broker, to make trading decisions. Also known as a controlled or managed account. Chicago Board of Trade glossary An arrangement in… … Financial and business terms
Discretionary account — Accounts over which an individual or organization, other than the person in whose name the account is carried, exercises trading authority or control. The New York Times Financial Glossary * * * discretionary account discretionary account ➔… … Financial and business terms
discretionary account — DA An account placed with a stockbroker, securities house, commodity broker or other authorized investment manager in which they are empowered to carry out transactions on this account without referring back for approval to the principal.… … Big dictionary of business and management
discretionary account — noun : a security or commodity market account in which an agent (as a broker) is given power of attorney so as to be able to make independent decisions and buy and sell for the account of the principal * * * an account in which the stockbroker is … Useful english dictionary
discretionary account — noun Date: circa 1920 a security or commodity market account in which an agent (as a broker) is given power of attorney so as to be able to make independent decisions and buy and sell for the principal s account … New Collegiate Dictionary
discretionary account — an account in which the stockbroker is allowed complete control over the purchase and sale of securities on the customer s behalf. [1915 20] * * * … Universalium
discretionary account — /dɪˌskreʃ(ə)n(ə)ri ə kaυnt/ noun a client’s account with a stockbroker, where the broker invests and sells at his own discretion without the client needing to give him specific instructions … Dictionary of banking and finance
discretionary account — Fin a securities account in which the broker has the authority to make decisions about buying and selling without the customer’s prior permission … The ultimate business dictionary
discretionary account — An account in which customer gives broker discretion, as to purchase and sales of securities or commodities, including selection, timing, and price to be paid or received. Stevens v. Abbott, Proctor and Paine, D.C.Va., 288 F.Supp. 836, 839 … Black's law dictionary
Limited Discretionary Account — A type of account in which a client allows a broker to act on his or her behalf in buying and selling securities. In this case, the broker can make certain types of trades without prior consent from the client. In order for this arrangement to… … Investment dictionary