California, the first state to legalize medical marijuana back in 1996, became even more pot-friendly in 2016 when it made it legal to use and carry up to an ounce of marijuana without a prescription.
A broker is an individual or parties (brokerage firm) that arranges transactions between a buyer and a seller for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Distinguish agent âone who acts on behalf of a principal.
Brokerage accounts also differ from savings accounts in the following ways: 1  Savings accounts donât offer you access to investments; instead, youâll earn an interest rate on cash you have deposited. 2  The money in a savings account is FDIC insured up to $250,000 per depositor, per insured bank. FDIC coverage does not insure investments, including stocks, bonds and mutual funds. Brokerage accounts carry a different kind of coverage, called SIPC. This coverage protects customers if a SIPC-member broker fails, but it does not protect against investment losses.