High net worth clients of wealth management firms often give them discretionary investment control. But it's more difficult to be certified to do that.Originally posted by Skyline_Addict
Yes, but that's because the onus is still on you to pick the investments.
The advisor doesn't pick your investments per se - they make recommendations and give advice based on your risk tolerance or profile, which is determined by a series of questions you answer (and sign off on, as being accurate). Then you decide whether you want to go for it, or discuss different options.
After your initial portfolio has been completed, it is still up to you to give instructions on the account going forward. They are not authorized to transact without your consent or direction I.E "Hey man. I just put in an order for $100k in the snapchat IPO for you a couple days ago. It's gonna be great. Just wanted to let you know, have a great weekend."