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Who makes the call on your portfolio trades?

by | Jan 22, 2012 | OTHER, SELF-PUBLISHED

Q – My financial advisor calls me quite often and asks for my permission to sell one fund for another, stating that the market conditions warrant a change. I am pleased that my advisor is in contact with me, but frankly, I don’t know if I should be saying yes or no. If I knew the answer, I would manage my investments on my own! What is your advice? – Gerard S., Oakville, Ontario

A – If you feel uncomfortable being the one making the ultimate decision, then my advice to you would be to seek out a discretionary money manager. This type of manager is also known as a Portfolio Manager and would manage your assets in accordance to a set of parameters set out by an IPS, or Investment Policy Statement. It is the job of the Portfolio Manager to make the investment calls on your behalf, and much work is done to determine the appropriate asset allocation, given your tolerance for risk and other factors. Account minimums vary, but are generally in the $250,000 range. – R.T.

© 2023 by Robyn K. Thompson. All rights reserved. Reproduction without permission is prohibited. This article is for information only and is not intended as personal investment or financial advice.

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