Separately Managed Investment Accounts or SMAs

Wall Street advisers, with their usual marketing diligence, have been doing relatively well, marketing yet another way to make money.

Assets held in investor’s name. Called: Separately Managed Accounts or SMAs

I repeat again my comments about SMAs: They’re expensive. They represent the same advisory problem, of high cost for a service already available from mutual funds and ETFs. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)