Institutional investors have traditionally used private money managers who take over a portion of an institution’s money and make all the investment decisions. Until recently, individuals could only get access to these managers if they had millions of dollars to invest.
Through WrapManager, investors with as little as $500,000 can access experienced money managers using Managed Accounts*. In a Separately Managed Account, you turn over the investment decisions in your account to a professional money manager who is paid a percentage of the assets under management. At WrapManager, you never pay commissions on trades in managed accounts.
WrapManager uses managed accounts because they offer important advantages to investors as compared to mutual funds and ordinary brokerage relationships:
- Investment choices – a complete range of investment strategies and styles.
- Custom asset allocation – a portfolio based on your individual objectives and needs.
- Quality money managers – the right managers carefully selected for you.
- Tax management – potential tax benefits, unlike with mutual funds.
- Competitive fees – based on assets under management and no commissions.**
- Investment restrictions – the potential to restrict the manager from buying certain stocks.
- Transparency – the ability to see what it is in your account, unlike with mutual funds.
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*A managed account is also known as a wrap account, separately managed account, separate account, individually managed account, actively managed account, privately managed account or discretionary account.
**For full details on our fees see Schedule H of our brochure.