Placemark Investments Feature Allows Reps Direct Management Capabilities
Placemark Investments, a provider of overlay portfolio management (OPM) services to the managed accounts industry, is now allowing financial advisors, or reps, to directly manage a portion of their clients' assets invested in a single unified managed account (UMA) with a new feature called "Rep as Manager." Placemark claims in a press release that this is the first such feature available on the market. "The Rep-as-Manager feature allows our financial advisers to offer greater diversification and take further advantage of separate accounts without giving up discretion over part or all of their clients' assets," said Bob Burns, Director of Managed Assets for McDonald Financial Group, in the release. The service is available to reps whose firms are currently using Placemark's OPM solution.