Account Management types describes who has trading authority on a client's account.
Standard Brokerage Accounts
| Account Ownership Type | Enum | Description |
|---|---|---|
| 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
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 | "RETIREMENT_TRADITIONAL_SELF" | The client directs trades in their account |
| Traditional Retirement Managed Account | "RETIREMENT_TRADITIONAL_ADVISORY | 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 | "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 Type | Enum | Description |
|---|---|---|
| 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 |