Russell Investments, the Tacoma, Washington-based investment services company,
announced that it has combined for advisors its model mutual fund and separate
account offerings with its LifePoints funds of mutual funds into an integrated
platform called Managed Account Strategies (MAS) to help meet the investing
needs of a wide range of clients. The MAS program is available now to advisors
who custody client assets with either Schwab Institutional or Fidelity's
Registered Investment Advisor Group (FRIAG). Michael Winnick, Russell's director
of MAS, says that the new program, announced during Schwab's annual Impact
conference, delivers the benefits of Russell's institutional style and
multimanager approach to advisors' clients in an operationally efficient manner,
and compliments Schwab's own separate account offerings. MAS includes proposal
generation, account paperwork, billing, and performance reporting, Winnick
says, and takes advantage of Russell's access to top money managers and ongoing
manager due diligence. Winnick says that pricing for MAS, which runs about 10
basis points for the mutual funds to 110 bps for the separate account offerings,
represents "a premium program at competitive pricing"for advisor who embrace the
Russell institutional approach. While no other distribution deals are imminent,
Winnick said that Russell would consider additional "distribution deals with
organizations that get the Russell approach."
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