what is a managed account 
a managed account is an investment account that is owned by an investor but managed by somebody else the account owner can either be an institutional investor or an individual retail investor a professional money manager hired by the investor then oversees the account and the trading activity within it armed with discretionary authority over the account the dedicated manager actively makes investment decisions pertinent to the individual considering the client s needs and goals risk tolerance and asset size managed accounts are most often seen among high net worth investors 