The manager of a discretionary account places client funds in a suitable investment because it provides a
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Question:
The manager of a discretionary account places client funds in a suitable investment because it provides a higher commission than alternatives that are also suitable for the client. The selected investment subsequently appreciates in value. This investment manager did not:
- place the client’s interests first.
- face an ethical dilemma because the investment was profitable.
- have a conflict of interest because the investment was suitable for the client.
Related Book For
Management Accounting
ISBN: 9780077185534
6th Edition
Authors: Will Seal, Carsten Rohde, Ray Garrison, Eric Noreen
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