accounting procedures, investment mangement


money belonging to the firm must be kept in a separate bank account to money belonging to clients

client funds would normally be kept in an account that's held in the name of a trustee, e.g. National Custodian Services


the following are paid from the firm's account

	salaries
	office expenses
	dividends to/withdrawals by the firm's owners



from the client accounts

	settlement amounts for purchases of shares, property etc
	trustee fees, to the trustee
	investment management fees, to the firm's account
	brokerage costs etc.



the tax situation for the firm is separate from any tax due on the client transactions.



