The short answer is no.
When a customer opens an investment account with a brokerage firm, he or she is typically given the option to choose between a discretionary or non-discretionary account. A discretionary account gives the assigned broker or financial advisor the latitude, or discretion, to buy or sell securities in the account without the customer’s prior authorization. In non-discretionary accounts, a broker does not have that discretion and must obtain the customer’s permission prior to each transaction.
For reasons that may seem obvious, discretionary accounts are somewhat of a rarity in the brokerage world, in part because they require much more supervisory oversight than non-discretionary accounts. Discretionary accounts are naturally prone to a higher risk for abuse or mismanagement of funds, as there is less customer input and oversight of the trading. Thus it should be no surprise that the securities laws for discretionary accounts are especially geared towards investor protection.