Discretionary investment management

Discretionary investment management is like asking someone else to take care of your toys and play with them for you while you're away.

When you have some extra money and you want to make it grow, you can give it to someone else like a financial advisor or a company that specializes in investing. This person or company will then use your money to buy different things like stocks, bonds, and other investments with the goal of making more money for you.

Now, discretionary investment management means you are giving the person or company more freedom to make those investment decisions for you without you having to give them specific permission every time. It's like telling them, "I trust you to do what's best for me, so go ahead and make decisions on my behalf."

Just like how you might trust an adult to take care of your toys, you are putting trust in the person or company to make good choices with your money. Of course, you can always check on your investments and talk with your investment manager to make sure they're doing a good job and making the right choices for you.