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Separate Accounts Fall Short of Customized for Customers
A study by Cerulli Associates of Boston concludes that separate accounts fall short of their marketing claims to be customized to the needs of their customers.
The study finds that only 15% of all separate accounts actually are customized along the major lines of securities purchase restrictions and specialized tax treatments. The study notes the remarkable popularity of the customization concept, but finds that most separate accounts do not have adequate back-office support or systems to implement the customization that is marketed, and sold, to investors and their advisers.
Source: Investment News, February 25, 2002
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Free Opinion
Sponsored by James J. Eccleston, an attorney representing stockbrokers, financial planners and
investors nationwide in arbitration, litigation and regulatory matters, and a shareholder with the law firm
Shaheen, Novoselsky, Staat, Filipowski & Eccleston
P.C.(www.snsfe-law.com). This Web site contains material
of general interest. It is neither intended to, nor constitutes, either legal advice or investment advice.
Always consult an attorney and/or investment advisor when building and protecting your wealth.
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