Face value: The stated value of a security as displayed on the certificate.

Fiduciary: A person, such as a trustee, executor, personal representative or administrator, who is legally required to act in good faith and in the best interest and trust of a beneficiary or minor.

52-week high: The highest price at which a security has traded within the previous 52 weeks.

52-week low: The lowest price at which a security has traded within the previous 52 weeks.

Fill or kill (FOK): Instructions that state the entire investment order must be filled immediately in its entirety or canceled.

529 plan: An education savings vehicle that lets earnings accumulate tax deferred until they are withdrawn for qualified educational purposes. Currently withdrawals for qualified expenses are tax-free. This tax benefit is effective through 2010 unless extended by Congress. Some states also provide tax advantages for this type of plan. Contact your tax advisor for more information.

Fixed annuity: An annuity policy in which the issuing insurance company guarantees a fixed interest rate for a specified amount of time.

Fixed income securities: Debt securities that pay specific interest rates on borrowed money, such as bonds, money market instruments and preferred stock.

401(k) plan: A type of retirement plan that lets employees make pretax contributions from earned income to a tax-deferred investment account selected by their employer and reduces their taxable income. Employers can match some or all contributions subject to limits.

403(b) plan: A qualified retirement plan similar to a 401(k) plan that is designed for employees of nonprofit organizations.

Front-end load: A sales charge or commission paid when an individual buys an investment.

Fully discretionary: All decisions are made by the client or with the client's permission.

Futures: Contracts traded on an exchange specifying a future date of delivery or receipt of a specific commodity at a prearranged price.