A discretionary account is a type of account in which the client authorizes their portfolio manager to buy and sell securities on their behalf without prior consent for each transaction.
A client typically sets guidelines for the account, such as the types of securities the portfolio manager may purchase. However, the portfolio manager can buy and sell securities within the investment guidelines established at his or her discretion.
A non-discretionary account is a type of account in which the portfolio manager would need to obtain authorization from the client before he or she places an order to buy or sell securities in the account.
Invisor does not currently offer non-discretionary accounts.