Products January 13, 2011

E*Trade Introduces UMA

E*TRADE Capital Management, LLC, is expanding its advisory services by offering clients the ability to invest in a unified managed account (UMA).  
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E*TRADE said in a news release that its UMA will give its customers the opportunity to work with an investment professional on such matters as asset allocation, investments, portfolio rebalancing, and tax management.  E*TRADE UMAs seek to maximize risk-adjusted returns by investing in a variety of investment vehicles, including individual stocks through more than 30 manager models, mutual funds, and/or exchange-traded funds (ETFs). Portfolios may be customized to a client’s specific investment needs, as well as managed with an eye toward tax sensitivity, the company reported.

“With nearly 30% of our brokerage accounts in retirement products such as traditional and ROTH IRAs, we believe our offering is especially well-suited for customers and prospects who want help investing to reach their retirement goals, ” said Michael Curcio, President & CEO, E*TRADE Capital Management.

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The Markets January 13, 2011

Indiana 529 Plan Adds CDs

The Certificate of Deposit (CD) Savings Plan is the newest addition to Indiana’s CollegeChoice 529 Plan, which already includes Direct Savings Plan and Advisor Savings Plan options.   
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State Treasurer Richard Mourdock, Chairman of the Indiana Education Savings Authority, announced that College Savings Bank has been selected as program manager for the CD Savings Plan.  The State expects the new CollegeChoice 529 CD Savings Plan to be unveiled by March 1, 2011, according to a news release.

The CollegeChoice 529 CD Savings Plan will allow Hoosiers to open, fund, and manage a college savings account at local participating banks.  “The CD Savings Plan is a welcome addition to CollegeChoice, and a great complement to our Direct Savings Plan and Advisor Savings Plan,” said Mourdock. “The CD Plan establishes a new distribution channel for CollegeChoice, retail banks, and expands our offering to include FDIC-insured certificates of deposit from College Savings Bank.” 

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The CollegeChoice 529 CD Savings Plan will include three FDIC-insured savings options: the CollegeSure CD, the InvestorSure CD and a series of traditional Fixed Rate CDs. 

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