SMA is a discretionary account difference, account, between, someone

farrukhsadiq

Hi all, can someone explain the difference between a seperately managed account and a discretionary account?
Can I consider them the same, or???

rohitdoshi

A separately managed account is an account for which there is a single investor.  If the account manager can decide when to buy and sell securities, it is a discretionary account; if the account manager cannot decide when to buy and sell securities, is is not a discretionary account.