According to a press release, the UMA program will allow advisors to offer clients a single portfolio that combines multiple investment products, including separately-managed accounts, exchange traded funds and mutual funds. Janney’s UMA program, with minimums as low as $150,000, gives a choice of eight different packaged portfolios with a variety of investment styles, or the ability to create a customized portfolio with a Janney financial consultant. It features an open architecture to facilitate customization and permit the financial consultant to develop any portfolio to meet their clients’ needs, the company said.
Placemark Investments will serve as the program’s overlay manager, with responsibility for trading all separate account portfolios, and implementing all program features such as tax management and rebalancing.
The UMA program is also supported by CheckFree APL from CheckFree Investment Services to provide clients with performance reports for both the overall account and each underlying separate account portfolio.
Janney Montgomery Scott is a regional full-service securities broker/dealer headquartered in Philadelphia.