According to a press release, Consulting Group’s new UMA can accommodate a blend of separately managed accounts (SMAs), mutual funds, exchange-traded funds (ETFs) and alternative investments in mutual fund format “…within one fully-integrated account, with a single asset allocation plan, contract, performance report and year-end tax statement.’
Select UMA offers strategic and tactical asset allocation models for both taxable and tax-exempt investors across a spectrum of asset classes, investment styles and risk levels. The program also employs overlay management to automatically correct for sizable asset allocation shifts and provides optional tax-management services via tax-loss harvesting and other tax liability management techniques.
The firm notes that, in addition to the convenience of a single account, adviser clients can benefit from a customized portfolio diversified across a variety of investment vehicles and managers. Additionally, the automated services provided by overlay management, along with automated account administration and performance reporting, is expected to provide Financial Advisors with more quality time to interact with clients.
Founded in 1973, the Consulting Group works with Smith Barney financial advisors and their clients, both institutional and individual, to develop customized investment, economic and asset allocation strategies based on their individual financial objectives.
Additional information may be found at: www.smithbarney.com/consultinggroup.