DISCRETIONARY MANAGEMENT
discretionary management: translation
A broker who has authority to execute all decisions regarding stocks and shares on behalf of his client without getting prior approval.
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Customised investment method in which a client enters into an agreement authorising an intermediary to manage his or her assets, i.e. to decide when to buy or sell financial instruments for the portfolio without the investor's prior consent. Discretionary management can be used for individual or institutional investors. NYSE Euronext Glossary