Why You Should Work With a Discretionary Portfolio Manager

Portfolio Managers are discretionary, meaning they can make investment decisions on their client’s behalf fast and efficiently since they generally do not need to call their clients every time, they want to make an investment decision.

“They do this by creating an individual written agreement or Investment Policy Statement (IPS) with their clients to establish and set out how their clients will work with them, including ongoing communication, types of investments, reporting, fees, risks and other issues related to their clients’ own circumstances.”[1]

Having discretionary trading authority is important, especially during market volatility, where the advisor needs to adjust a client’s portfolio to protect them or to take advantage of a unique opportunity that presents itself.

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Do You Have a Wealth Advisory Team?

Wealth advisors offer more than investment advice. Wealth encompasses all parts of personal and business or farm life, not just what’s in your investment portfolio. It’s everything you’ve accumulated: your home, cottage, business or farm, investments and other property.

Managing all these assets requires the advice of multiple professionals — accountants, lawyers, investment advisors, realtors, bankers, mortgage brokers, insurance agents, financial planners, estate planners and more.

Advisors often work in isolation from each other. This can result in conflicting and sometimes incomplete advice, leading to bad financial decisions made in isolation of a person’s overall financial objectives and needs.

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