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In a self-directed brokerage account, the individual who owns the account manages their own portfolio. While less expensive in terms of fees, many investors are unsure of their knowledge and experience in the investment field or do not have the time to put into education. With a managed account, a broker is hired to manage an individualized portfolio on behalf of the owner. While this costs more in fees, it has the advantage of saving time as well as having the funds managed with professional expertise.

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Q: What are the advantages of managed broker accounts?
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