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Discretionary

This setting allows you to designate an account as a discretionary. This setting is used primarily for reporting purposes, though it can impact trading activity in non-discretionary accounts, depending on your system settings.

This field affects both trading and reporting activity.

When you update this field for an individual account or accounts, you can sync those changes without running a full sync. To learn more about syncing account changes for individual accounts, see Synchronize Account Data With Tamarac Trading.

If the Approval required for non-discretionary accounts setting on the Rebalancing System Settings page is selected, trades in non-discretionary accounts must receive trade approval before they can be sent to the Trade List. The trade approver must also add a note to the account before the trade is sent to the Trade List, creating a reportable trail for auditing and compliance purposes.

This setting is also used in the Compliance ADV report. There, a widget will show data about discretionary and non-discretionary accounts for the purpose of helping you complete Form ADV.

For more information on how trade approvals interact with non-discretionary accounts, see Approve Trades.

For more information on editing accounts, including how to navigate to this panel, see Maintaining Accounts.