NU Online News Service, Jan. 4, 2005, 4:15 p.m. EST
A San Francisco company is offering independent advisors another way to hire it to oversee clients’ portfolios.[@@]
Schwab Institutional has introduced a new Managed Account Affiliates program for advisors who want to buy managed account services from U.S. Trust.
Schwab Institutional and U.S. Trust are both units of Charles Schwab Corp., San Francisco.
A managed account is a large portfolio of individual securities. In most cases, a professional portfolio manager has the discretion to make decisions about the allocation of the account’s assets.