What does managed portfolio mean?

Hi!

A managed portfolio is basically one where your financial advisor makes the decisions on your behalf. Based on your financial objectives, risk appetite and investment horizon, the advisor will come up with an investment plan and then also perform the execution himself. The advisor will not necessarily require any prior permission to transact on your behalf. The advisors makes the recommendation and also performs the buy/sell. So you do not really have to do the transaction yourself. However, you should inform the advisor in case of any material changes in your financial status so that they can adjust the investment plan accordingly and modify it to better suit your needs.
I work at kristal.AI, and it's my passion to evaluate various upcoming investment opportunities.

Hi Janice,

From the perspective of Phillip, a managed portfolio just means that it is discretionary portfolio whereby portfolio managers will execute on your behalf with no approval required from you.

If you are being given advice on whether to buy/sell/switch, but have the final say to proceed or not, that is more likely a WRAP portfolio where you retain control.

DIY is what it is, you call the shots, but will have to do your own research, etc.