E*Trade Financial Corporation (NASDAQ:ETFC) today announced that E*Trade Capital Management has expanded its advisory offerings to provide customers with a sophisticated investment solution that encompasses multiple investment strategies in one professionally managed account.
The Unified Managed Account (UMA) is E*TRADE's new solution affording customers the opportunity to work with a dedicated investment professional to obtain a comprehensive, integrated approach to 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 customer's specific investment needs, as well as managed with an eye toward tax sensitivity.
Working with an investment professional, customers begin with an in-depth assessment of goals, time horizon, risk tolerance and financial situation. Next, one of E*TRADE Capital Management's core portfolios is selected and may be customized to the customer's specific investment preferences, tax requirements and cash management needs. The result is an optimized, professionally managed portfolio that is systematically rebalanced on an ongoing basis and reported on a quarterly basis, with the ability for the customer to track the portfolio anytime from etrade.com.
"We've introduced a personalized, flexible investment solution to serve the diverse needs of our customers who want professional help to meet their long-term financial objectives," said Michael Curcio, President & CEO, E*TRADE Capital Management. "With nearly 30 percent 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."
A fee-based investment solution for a portfolio of $250,000 or more and co-advised by Lockwood Advisors, Inc., the UMA is designed for goal-oriented investors with a long-term time horizon who wish to delegate management of their investment portfolio to an investment professional.