NU Online News Service, Aug. 30, 11:45 a.m. – H.D. Vest Financial Services, Irving, Texas, has agreed to market seven investment strategies developed by the John Hancock Private Client Group through its new separate account program.
H.D. Vest is a unit of Wells Fargo & Company, San Francisco, and John Hancock Private Client is a subsidiary of John Hancock Financial Services Inc., Boston.
A separate account is a vehicle that creates a custom-tailored alternative to mutual funds for investors with large amounts of assets.
John Hancock Advisers, the Hancock unit that manages the private client group, begin offering separate accounts to institutional clients five years ago. The company now manages $6 billion in separate account assets.