Account Management Types

Account Management types describes who has trading authority on a client's account.

Standard Brokerage Accounts

Account Ownership TypeEnumDescription
Self Directed Account"SELF"The client directs trades in their account
Managed Account"ADVISORY"The client's account is accessible to an Investment Advisor, but trades are placed only by the client's authorization
RIA Managed Account"RIA_MANAGED"An Investment Advisor has discretion to exercise trades in the client's account
Custodial Account"CUSTODIAL"The client manages an account for a minor beneficiary
Custodial Account"CUSTODIAL_MANAGED"An investment advisor manages an account for a minor beneficiary
Cash Reserve"RESERVED"A cash management account that cannot be used to purchase securities

Retirement Accounts

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User Document Requirements for Retirement Accounts

To use the following account types, the following details are required on the Account's User:

  1. The DISCLOSURES Digital Document should have the iraAgreement flag set
  2. The PERSONAL_INFO Digital Document should have the irsBackupWithholdings property set
Account Ownership TypeEnumDescription
Traditional Retirement Self Directed Account"RETIREMENT_TRADITIONAL_SELF"The client directs trades in their account
Traditional Retirement Managed Account"RETIREMENT_TRADITIONAL_ADVISORYThe client's account is accessible to an Investment Advisor, but trades are placed only by the client's authorization
Traditional Retirement RIA Managed Account"RETIREMENT_TRADITIONAL_RIA_MANAGED"An Investment Advisor has discretion to exercise trades in the client's account
Roth Retirement Self Directed Account"RETIREMENT_ROTH_SELF"The client directs trades in their account
Roth Retirement Managed Account"RETIREMENT_ROTH_ADVISORY"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"RETIREMENT_ROTH_RIA_MANAGED"An Investment Advisor has discretion to exercise trades in the client's account

Trusts

Account Ownership TypeEnumDescription
Trust Self Directed Account"TRUST_SELF"The primary trustee trades the trust account themselves
Trust Managed Account"TRUST_ADVISORY"The trust is accessible to an Investment Advisor, but trades are placed only by the client's authorization
Trust RIA Managed Account"TRUST_RIA_MANAGED"The trust account is fully managed by a registered investment advisor