FAQs

Can my adviser make trades in my account without my permission?


In general, your adviser must get your permission before they take action like buying or selling investments for you, or withdrawing money from your account. There are two exceptions:

  • if you have given your adviser “discretionary” authority
  • if you have given someone else trading authority or power of attorney over your account
Discretionary accounts are usually set up by investors who prefer to delegate the investment decisions to a professional investment manager and pay a fee rather than pay by transaction. To check if you have a discretionary or “managed” account, and to understand your adviser’s role, review your account application and other documents you completed when you opened the account.

If your account is not discretionary and your adviser has been making trades in your account without your permission, contact the Compliance department of your investment firm right away and document your complaint.

If you are not satisfied with the response of the Compliance department contact us for more information about your options and where to go for help.