It's managed account mania mayhem. Big brokerage firms are slashing account minimums.
Many explanations answer.
Advisors want them for capital gains management. New wealth investors need tax management now for their Internet-economy incomes. The list goes on. Managed account growth potential is billed by some as one of the biggest product development opportunities to ever occur in the financial services industry. Wrapdotcoms Several firms want to penetrate the managed account market with online platforms.