UK Accounting Glossary
A managed account is an investment account that is managed by a third party who has the authority to buy and sell without prior approval from the holder. A managed account is similar to a discretionary account, but the difference is that a discretionary account is typically opened out of convenience for clients who are ill or out of the country; a managed account may be solicited beyond those circumstances. The holder of a managed account may allow the third party controlling the managed account to trade without restrictions; on the other hand, the holder of a managed account may choose to impose some limitations. A managed account is similar to mutual fund accounts, which are also managed on behalf of another person, except that a managed account may be personalized and tailored to the specific needs/goals of the account holder. Whereas a mutual fund account involves the assets of many investors, a managed account belongs to one person. A managed account is sometimes called a controlled account.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Managed Account are sourced/syndicated and enhanced from:
This glossary post was last updated: 7th February 2020.