Discretionary / Non-Discretionary

or Register to post new content in the forum



  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Apr 6, 2017 4:16 pm

I'm considering taking on a client that would like to follow one of my models but would like to approve each trade. Currently, my brochure and ADV mention discretionary management only and I only have an advisory agreement for discretionary.


I'm assuming that this would not be a material change and would not require a mid-year brochure update; rather I could make a year-end change to 'Advisory Business' section.

I'm not too keen on hiring a lawyer to draft a non-discretionary IA agreement? Any advice?