Business, Legal & Accounting Glossary
A managed account is an investment account set up for a client by a professional manager.
An account for which the holder gives his/her broker or someone else the authority to buy and sell securities, either absolutely or subject to certain restrictions. also called controlled account or discretionary account.
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.
controlled account
discretionary account
Account
Professional manager
separately managed account
Unified Managed Account (UMA)
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This glossary post was last updated: 6th November, 2021 | 0 Views.