Account Management types describes who has trading authority on a client's account.
Standard Brokerage Accounts
Account Ownership Type | Enum | Description |
|---|---|---|
Self Directed Account |
| The client directs trades in their account |
Managed Account |
| The client's account is accessible to an Investment Advisor, but trades are placed only by the client's authorization |
RIA Managed Account |
| An Investment Advisor has discretion to exercise trades in the client's account |
Custodial Account |
| The client manages an account for a minor beneficiary |
Custodial Account |
| An investment advisor manages an account for a minor beneficiary |
Cash Reserve |
| A cash management account that cannot be used to purchase securities |
Retirement Accounts
User Document Requirements for Retirement Accounts
To use the following account types, the following details are required on the Account's User:
- The
DISCLOSURESDigital Document should have theiraAgreementflag set- The
PERSONAL_INFODigital Document should have theirsBackupWithholdingsproperty set
Account Ownership Type | Enum | Description |
|---|---|---|
Traditional Retirement Self Directed Account |
| The client directs trades in their account |
Traditional Retirement Managed Account |
| The client's account is accessible to an Investment Advisor, but trades are placed only by the client's authorization |
Traditional Retirement RIA Managed Account |
| An Investment Advisor has discretion to exercise trades in the client's account |
Roth Retirement Self Directed Account |
| The client directs trades in their account |
Roth Retirement Managed Account |
| The client's account is accessible to an Investment Advisor, but trades are placed only by the client's authorization |
Roth Retirement RIA Managed Account |
| An Investment Advisor has discretion to exercise trades in the client's account |
Trusts
Account Ownership Type | Enum | Description |
|---|---|---|
Trust Self Directed Account |
| The primary trustee trades the trust account themselves |
Trust Managed Account |
| The trust is accessible to an Investment Advisor, but trades are placed only by the client's authorization |
Trust RIA Managed Account |
| The trust account is fully managed by a registered investment advisor |