Discretionary Account
a.k.a. Managed account
An account where you give a professional permission to make trades for you without asking each time.
In plain English
An account where you give a professional permission to make trades for you without asking each time.
In a discretionary account, a manager or broker decides what to buy and sell on your behalf. You set the overall goals; they pull the trigger.
It can save time, but you are trusting their skill and honesty. Check their licence and fees, and beware anyone who 'guarantees' returns.
Keep this word for good
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