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TD Ameritrade launches Unified Managed Account Exchange

15 September 2010  |  4226 views  |  0 Source: TD Ameritrade

TD AMERITRADE Institutional, a division of TD AMERITRADE, Inc., a brokerage subsidiary of TD AMERITRADE Holding Corporation (NASDAQ: AMTD ), announces the launch of a new Unified Managed Account Exchange (UMAX) which expands the types of investments independent registered investment advisors (RIAs) can offer to clients and provides more flexibility in how the portfolios are managed.

The UMAX platform revolutionizes unified managed accounts (UMAs) by providing two distinct investment management solutions - an open architecture approach in which advisors can construct solutions from a large universe of products using their own research and product selection strategy, and a bundled option that includes robust product research and asset allocation guidance.

"As RIAs continue to demand more flexibility and efficiencies to streamline the investing process, UMAs have become a go-to solution allowing advisors to spend more time on business development and serving clients. However, advisors working with UMAs have been limited by rigidity and lack of investment options," said Matt Judge, director of product management, TD AMERITRADE Institutional. "With its open architecture and comprehensive product access, UMAX aims to provide advisors with the added flexibility and investment choice to help them respond to today's volatile markets."

Through the innovative open-architecture approach advisors can use their own portfolios and research with access to thousands of investment vehicles including Separately Managed Account (SMA) strategies, mutual funds, Exchange Traded Funds (ETFs), Exchange Traded Notes (ETNs), closed end funds, third party strategists as well as including alternative asset classes. Within the UMAX platform, advisors can also choose a bundled approach which includes institutional-caliber third-party research, and due diligence. Placemark Investments, a leading provider of overlay management services to the wealth management industry, is responsible for trading accounts in UMAX and customizing portfolios where appropriate for tax management, security or social restrictions or based on client risk attributes.

UMAs are a form of fee-based investment solutions that allow advisors to combine multiple professionally managed investment products into a single account with automated services such as rebalancing, performance reporting, billing and advanced functionality such as tax management and managing securities restrictions. The UMA construct has gained popularity with advisors due to the ability of UMAs to streamline many of the administrative, paperwork and operational inefficiencies of using multiple separately managed accounts as they look to implement a holistic approach to managing a client's portfolio.

"We believe TD AMERITRADE Institutional's UMAX platform sets a new standard for the RIA industry" said Randy Bullard, executive vice president, Placemark Investments. "UMAX combines the open-architecture benefits of dual-contract separate accounts, with the research, operational efficiency and automated services of Unified Managed Accounts, resulting in a superior investment solution for advisors and their clients."

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