If you lack extensive experience in investing, are time-strapped, or are simply not inclined to get involved in managing their investment portfolio, the discretionary approach is probably the right one for you. By delegating the management of your portfolio to a wealth service professional, you are freed from the burden of making investment decisions on a day-to-day basis.
You will not be completely detached from your portfolio though. The wealth manager will contact you regularly to review and revise your investment strategy – this is necessary as your needs evolve over time.
At the same time, you can be assured that your assets are being handled by a highly qualified wealth management professional, backed by a team of analysts who are constantly scouring the market in search of the best investing instruments and solutions – including everything from trusts to exchange-traded funds, fixed income securities, and equities.
Having a say over your investment portfolio is the most compelling reason for choosing the advisory style of asset management. You will always be in the driver’s seat and will have total control over where your money is being invested at any given time. This is particularly helpful when markets are volatile – and you need to be able to react quickly to these swings.