ShmoopTube

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finance a la shmoop what is an unsolicited order

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alright well people it's just an order like to buy or sell a stock or bond or [Definition of unsolicited orders]

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derivative security that you instruct your broker to execute all on your

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lonesome that is the broker or another professional did not recommend you doing [Guy stood in front of Walmart]

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that trade you did research on your own consulted alpha magazine and The Motley [The magazine on a disk]

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Fool noted the massive number of Spinney fidgets things that were selling off the

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shelves the last time you visited Walmart and decided to make an investing

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statement based on that observation and in placing an unsolicited order you are

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legally on your own if things fail ie the broker is exempt from any liability [Exempt from liability stamp]

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for having made an incorrect or improper recommendation or whatever in real life

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brokers have so many layers of legal coverage above their recommendations [A wedding cake]

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that no it really doesn't matter if they sell you 20 bad stocks in a row you just

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have to be appropriate for what you checked on the boxes in the form that [Investment criteria checklist]

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you sent to them that well they're still likely immune to prosecution anyway yeah

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no recourse or well your only recourse is to just fire them and hire this guy [Bonzo the chimp appears]

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to pick stocks for yes yeah asking yourself well really how much worse

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could he do had your broker been the one to stumble on the many sold out signs of

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spinny things at Walmart and then she called you to suggest you buy shares of [Broker calling a client]

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spinny fidget time-wasters.com well then the order would have been

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considered a solicited one and in theory solicited orders carry a higher weight [Exempt from liability stamp is wiped away]

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of scrutiny should something go awry and regulators get involved and basically it

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revolves around that recommendation being appropriate to the risk levels and

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duration levels and other levels of investing prowess that you proffer that

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you actually have and yeah those regulators they mean business you really [Regulator holding a baseball bat]

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don't want to be on their bad side

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