Alison Morris: Discretionary investment management and LPAs explained

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clock • 3 min read

Lawyer Alison Morris looks at lasting power of attorney rules in relation to discretionary investment management and highlights some good news for advisers...

In a fast-moving world with so many different investments available for which decisions need to be taken quickly, it is usual for investors to trust their financial advisers to appoint investment managers. Clients are happy as they do not have to deal with day-to-day investment decisions and are kept updated by receiving regular investment reports. What happens though if the client loses mental capacity? Who then is allowed to authorise the financial advisers to deal with their client's investments? If there is a Power of Attorney (POA) in place, then attorneys appointed under an E...

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