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.
What is a 'Wrap Account' A wrap account is used by a brokerage firm to manage an investor's portfolio for an annual fee, which is based on total assets under management (AUM). This fee covers all of the administrative, commission and management expenses for the account. For many investors, a wrap account is less expensive than a brokerage account that charges commissions for trading. BREAKING DOWN 'Wrap Account'