discretionary account
discretionary account. An account that allows a broker access to a customer’s funds to purchase and sell securities or commodities for the customer based on the broker’s judgment and without first having to obtain the customer’s consent to the purchase or sale. [Cases: Brokers 19. C.J.S. Brokers §§ 5, 25–26, 50, 56–57, 59.]
discretionary account Read More »