...permission of client? A financial advisor should never be able to execute an investment sale or purchase without first getting permission from the client; true or false?
True, unless they have been given limited power of attorney by the client and as a result have discretion over the account. Which is often a very valuable tool and still has restrictions on the level of discretion. Most HNW advisors like multi-family offices have discretion, but they tend to be very sophisticated, but the average FA absolutely not.
