Separately Managed Accounts
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| Professionally managed portfolio of
securities that uses pooled money to buy investments owned directly by
the account holder. SMAs offer customized professional management to
clients challenging mutual funds' preeminence as wealth-management
vehicles. The chief advantage of SMAs over mutual funds is direct
ownership of securities in the portfolio. This permits customization,
and provides individual Cost Basis for income tax purposes; the
investor, unlike a mutual fund investor, thus has control of the tax
consequences of the timing of purchases and Realized Profit or Loss. Minimum Account Size: $100,000 Cost Effective: A single quarterly or monthly fee covers all professional portofolio management services, and transaction costs as well as secuirty custody, administration and reporting services. Improved tax-efficiency: A portion of this fee may be deductible for tax purposes but clients should seek independent advice on all tax matters. |
