Comprehensive Financial Consulting Accounts Now Hold Assets Totaling $291 Billion: Survey by Money Management Institute.WASHINGTON, D.C.--(BUSINESS WIRE)--Oct. 8, 1998--Assets in comprehensive financial consulting accounts managed for individuals totaled $291 billion as of June 30, 1998, increasing from a total of $241 billion at the end of 1997, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a survey of money managers and managed account sponsors released by the Money Management Institute. The Institute's survey revealed strong and continuing growth for this rapidly maturing sector of the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry, which comprises individual accounts offered by financial consultants utilizing a broad range of advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal and managed by professional, independent money managers using an asset-based fee structure. The Money Management Institute is the national trade association representing the comprehensive financial consulting segment of the financial services industry. The Institute's membership reflects firms offering both consultant account programs as well as mutual fund account programs together with portfolio management firms. Representative members of the Institute include the major Wall Street firms and others such as Brinker Capital, Lockwood Financial, Rittenhouse Financial Services, NWQ Investment Management, Oppenheimer Capital, Furman-Selz, INVESCO, Lazard Freres, Neuberger and Berman, and Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. . The Institute's survey gathered data on assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. from leading participants in the financial consulting sector through a survey distributed to top sponsors of consulting service/managed accounts and their money manager firms. Responses were augmented by follow-up follow-up, n the process of monitoring the progress of a patient after a period of active treatment. follow-up subsequent. follow-up plan telephone calls and comparison of sponsor firm responses to those of their independent money managers. The first half of 1998 growth indicated by the account sponsors was all positive but varied widely, ranging from plus 4 percent to plus 112 percent. In aggregate, an annual growth rate of approximately 41 percent was indicated by results for the first half of the year. This first half performance continues the strong growth experienced over the past three years by sponsors of comprehensive money management services for individuals. The top 10 market participants The term market participant is used in United States constitutional law to describe a U.S. State which is acting as a producer or supplier of a marketable good or service. When a state is acting in such a role, it may permissibly discriminate against non-residents. in terms of assets under management (with total market share of 78%) further indicated that they experienced new cash flow of $35 billion during 1997. This "new money" figure indicates new accounts or additional investments in existing accounts as distinct from market value growth. Data for new money attracted by these top 10 firms during the first half of this year indicates an increasing rate of growth over the previous year. With $38.1 billion in new money added through June 30, 1998, these market dominating firms attracted more assets in the first half of 1998 than in all of 1997. Interestingly, the strongest 1998 growth within this group was shown by firms with somewhat smaller market shares, indicating a probable spread in financial consulting and managed account popularity. Growth in client assets in managed accounts reflects that the benefits of comprehensive financial consulting are becoming more apparent to individual investors. Among the specific benefits, according to Christopher L. Davis, the Institute's Executive Director, are "the personal consulting relationship, the services of independent investment managers, improved investor communications, customized approaches for personal tax efficiency, a negotiable NEGOTIABLE. That which is capable of being transferred by assignment; a thing, the title to which may be transferred by a sale and indorsement or delivery. 2. asset-based fee, and regular, customizable performance reporting." "The severe market turbulence turbulence, state of violent or agitated behavior in a fluid. Turbulent behavior is characteristic of systems of large numbers of particles, and its unpredictability and randomness has long thwarted attempts to fully understand it, even with such powerful tools as of late August through September has provoked pro·voke tr.v. pro·voked, pro·vok·ing, pro·vokes 1. To incite to anger or resentment. 2. To stir to action or feeling. 3. To give rise to; evoke: provoke laughter. renewed discussion of the importance of formulating and adhering ADHERING. Cleaving to, or joining; as, adhering to the enemies of the United States. 2. The constitution of the United States, art. 3, s 3, defines treason against the United States, to consist only in levying war against them or in adhering to their enemies, to a disciplined investment strategy," said Mr. Davis. "Investors in the past have realized considerable value from `staying the course' through the most turbulent short-term phases of the market. In the view of our members, the current market environment underscores the importance of setting specific investment goals, both short and long term, and implementing investment strategies with disciplined execution to reach those goals." |
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