Joe Gustafson is a very busy person who prefers to use one account to handle all his financial services needs like checking, investing, and borrowing. Which of the following types of accounts is most suitable for Joe? a. A checking accountb. A money market deposit accountc. A brokerage accountd. An asset management accounte. A savings account

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Grumpy

6 July, 04:55

Joe Gustafson is a very busy person who prefers to use one account to handle all his financial services needs like checking, investing, and borrowing. Which of the following types of accounts is most suitable for Joe? a. A checking accountb. A money market deposit accountc. A brokerage accountd. An asset management accounte. A savings account

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Melody Mcconnell · Answer 1

D) An asset management account

Explanation:

An asset management account is basically an all-in-one account that includes checking account, credit and debits cards, and money market funds. Gustafson's money is basically held by a bank or another financial institution that provides both banking services and investment services. Deposits are protected by the Securities Investor Protection Corporation (SIPC). Usually to qualify for an asset management account you must have a lot of money, they are not available for everyone.