Question

a new customer wants to open an account at a brokerage firm to purchase municipal securities. the municipal securities principal of the branch is out of the office for the day, but the customer is adamant about the account being opened right away. what action can be taken?

Answer 1

When the municipal securities principal is unavailable, another authorized representative can be contacted to assist with the account opening process at the brokerage firm. If that is not possible, the customer may need to wait until the principal is back in the office. In the meantime, providing information and resources about municipal securities can help the customer make informed decisions.

Step-by-step explanation:

Action to be Taken for Opening an Account at a Brokerage Firm:

If the municipal securities principal of the branch is out of the office for the day but a new customer wants to open an account right away, there are a few actions that can be taken:

• Contact another authorized representative at the firm who can assist with the account opening process immediately.
• If no other representative is available, explain to the customer that the account opening process may need to be delayed until the municipal securities principal is back in the office.
• Offer the customer information and resources about municipal securities in the meantime, so they can make informed decisions when the account is opened.