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.
A third kind of brokerage account is a discretionary account, which permits the broker to buy and sell shares for the investor without first contacting the investor for approval. â I had a brokerage account and my friend thought that meant I was rich, but he was very wrong, cause I was not.