The Handbook of Professionally Managed Assets: A Definitive Guide to Profiting from Pooled Investments

Individually and Separately Managed Accounts

Many investors do not know the difference between a fee-based advisory account, an individually managed account, and a separately managed account as offered to them by their investment advisor or financial planner. Moreover, they likely do not really care to know the difference, as long as the costs of each type of account to them are reasonable. The focus of this chapter is on separately managed accounts and, then, in how they differ from traditional mutual funds. However, first, I need to review the discussion from Chapter 1 of the characteristics of a fee-based advisory account and the distinction ...