Series 7 Exam Question 245: Answer and Explanation

Question: 245

What is the minimum amount of assets your client must have in order to establish a prime brokerage account?

  • A. $100,000
  • B. $500,000
  • C. $1,000,000
  • D. $5,000,000

Correct Answer: B


B. Your client must have at least $500,000 in assets available for investments to establish a prime brokerage account. Although, if the account is established through an investment adviser, the minimum requirement is only $100,000. Prime brokerage firms consolidate information from all brokerage accounts the client has to provide one statement.

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