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discretionary account

   Also found in: Financial 0.02 sec.
discretionary account
n.
A stock or commodity account in which an agent is free to trade without prior consultation with the customer.


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County Supervisor Mike Antonovich, whose Fifth District includes Castaic, said Antonovich used his discretionary account to keep the lake open through the Labor Day week and convinced the board of supervisors to allocate general-fund money to keep the lake open through the end of the month.
Cash flow has been quite good, he said, but when accountants were sent to check the books, they found much of the money had been put in a discretionary account that the aquarium thought it couldn't immediately access.
the national retirement financial services firm, reported that assets in RightPath, its next generation defined contribution (DC) plan, have surpassed $700 million, with close to 60% of participants choosing to enroll in the plan opting for discretionary account management.
 
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