What does it mean exactly by " client-directed brokerage"? is it that usually the brokerage from broker to the analyst but in this case the brokerage is from the broker directly to the clients instead? so confused.
" can’t use the client brokerage to pay for the client-directed brokerage" . what does it mean?
Please add some comments
directing clients trades to a specific broker in return for services that will help manage their account, ie. research, portion of bloomberg subscription (BBG may constitute mixed-use research). definitely something you want to read the CFA text on
So kinda ot, but if a client wants us to use a broker that doesn’t offer best rates, are we allowed to use the broker? I’m pretty sure the answer is yes since the client is directing. Do we have to inform them that it isn’t the best arrangement?
Yes and yes.