Gilligan A discretionary account is an account where the client has given the financial advisor the authority to make trades on the account without prior approval from the client. The advisor has discretion over how the account is managed, including what trades are made and when they are made. What does discretion used mean? Discretion is … Read more
Monetary Policy: Meaning, Types, and Tools In this article, we will discuss the meaning of monetary policy, the different types of monetary policy, and the tools that are used to implement monetary policy. What is the most widely used tool of monetary policy? The Federal Reserve’s most widely used tool of monetary policy is the … Read more
The Best-Interest Contract Exemption (BICE) is a regulatory exemption that allows financial institutions to receive certain types of compensation when providing investment advice to retail customers, provided that the institution adheres to certain conditions designed to protect the customer’s best interests. The conditions imposed by the BICE include the following: The financial institution must enter … Read more
