A discretionary account allows a registered representative to do what?

A discretionary account permits a registered representative to make investment decisions on behalf of the client regarding specific asset purchases without needing to obtain consent for each transaction. This arrangement allows the representative to act in the client's best interest based on their investment objectives and risk tolerance, streamlining the process and potentially allowing for more timely trades. It is essential for the registered representative to have a clear understanding of the client's financial situation and investment goals to manage the account effectively.