discretionary account
An account with a brokerage firm that authorizes the broker or another named individual to make decision on how Funds in the account are invested without a requirement to consult with the account holder prior to execution. See Churning; Fiduciary; Managed Account; prudent man rule.
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prudent man rule
fiduciary
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back interest
variable cost
alternative cost
London International Financial Futures and Options Exchange (LIFFE)
maximisation