View the entire Frequently Asked Questions (FAQs)

What is an administration-only client?

Suppose you do not complete the annual review before the deadline, and we cease the Managed Discretionary Account (MDA) service to you. You are an administration-only client now.

If you are an administration-only client, we strongly recommend that you be aware of the impact of the ceasing of our MDA service to you. We have described this impact in answering the question: Why must I complete the Annual Review?

Please note that if you are an administration-only client, you can instruct us to sell some or all of your securities at any time. Thereafter whenever you wish the cash in your cash account to be used to invest in securities, you can restart our MDA service. This enables us to manage your assets at your brokerage account and cash account as per the MDA Investment Program.