New Wachovia Securities DMA Account Features 16 Managers, 21 Styles
Wednesday January 29, 2:45 pm ET
RICHMOND, Va., Jan. 29 /PRNewswire-FirstCall/ -- Wachovia Securities today introduced an enhanced multiple-style account program, known as Diversified Managed Allocations (DMA), using 16 unaffiliated managers and 21 different investment styles. The new advisory program represents a significant enhancement on existing multiple-style accounts, offering investors with as little as $150,000 the opportunity to benefit from the expertise of a select list of unaffiliated, investment managers in one open architecture account to create truly customized client portfolios.
Mark Staples, managing director of the Consulting Services Group of Wachovia Securities, said the firm's new DMA program represents the next step in the evolution of such products. "In addition to diversification for smaller account sizes, this new approach to DMA offers strategic asset allocation, recommended allocations, auto-rebalancing and automatic manager replacement, a feature that allows WSI to remove and replace an investment advisor with another investment advisor with a similar management style, all in the context of a single account for one, all-inclusive fee," Staples said. Furthermore, clients own each of the securities in their DMA account and have the freedom to constrain or restrict specific securities or industries. The DMA program uses Checkfree APL's MSP platform as its portfolio management tool, which allows us to implement several investment styles in one brokerage account, Staples noted. . .
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