Who is responsible for making all investment decisions in an account on behalf of another party?

The trustee is the individual or entity responsible for making all investment decisions in an account on behalf of another party. This role is often associated with a fiduciary duty, where the trustee must act in the best interests of the beneficiaries of the trust or the account holder. Trustees have the responsibility to manage the assets, adhere to the terms of the trust agreement, and ensure that investments are appropriate for the beneficiaries’ needs.

In the context of investment management, the trustee may evaluate various investment options, execute trades, and maintain records pertaining to the trust's assets. This position requires a strong understanding of investments and fiduciary principles, ensuring that all decisions align with the beneficiaries' interests.

Other roles, such as a broker, may assist clients in executing trades and providing advice, but they do not have the same comprehensive authority and responsibility as a trustee when it comes to making investment decisions on another party's behalf. Market makers facilitate trading by providing liquidity in the markets, while transfer agents maintain records of ownership for securities and may handle the transfer of ownership but do not make investment decisions.