Huang is an investment adviser for high-net-worth clients. Huang’s responsibility is to assist new clients complete the extensive documentation needed in opening an account. These signed documents give access to client assets and the discretion to trade on behalf of the client. Because Huang is new and not familiar with firm procedures and is afraid of making mistakes with the documents. Therefore, he uses erasable ink in completing the documentation so he can easily fix any mistakes without having to go back to the client for additional signatures. Comment the action of Huang
Huang is an investment adviser for high-net-worth clients. Huang’s responsibility is to assist new clients complete the extensive documentation needed in opening an account. These signed documents give access to client assets and the discretion to trade on behalf of the client. Because Huang is new and not familiar with firm procedures and is afraid of making mistakes with the documents. Therefore, he uses erasable ink in completing the documentation so he can easily fix any mistakes without having to go back to the client for additional signatures. Comment the action of Huang
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Huang is an investment adviser for high-net-worth clients. Huang’s
responsibility is to assist new clients complete the extensive documentation
needed in opening an account. These signed documents give access to client
assets and the discretion to trade on behalf of the client. Because Huang is new and not familiar with firm procedures and is afraid of making mistakes with the documents. Therefore, he uses erasable ink in completing the
documentation so he can easily fix any mistakes without having to go back to
the client for additional signatures. Comment the action of Huang
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