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Discretion

Datcretion, Discretion

Discretion allows advisers to make purchase and sell decisions in a client’s account without the client’s prior knowledge or approval. To do this legally (key word here,) the adviser must have discretionary authority over the account.

Written discretionary authority must be kept on file within the customer’s account. The only instance when spoken discretionary orders are permitted is the 10 days following the first transaction in the client’s account.

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