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Asset Management Services

In today’s complex marketplace, even sophisticated investors are challenged to stay current, to monitor their investments, and to respond to rapidly changing conditions.

For investors who’d like to free themselves from the need to constantly monitor asset allocation and portfolios, Raymond James provides access to professionals whose skills at risk profiling, institutional asset allocation, money management selection and investment policy development can help you navigate in a constantly-changing environment.

Look to us for asset management services that are:

  • Customized to meet the needs of you and your family
  • Fee-based so advisor have a vested interest in their clients success
  • Strategic to reflect the dynamic nature of the market – and your life

How We're Different

For individuals who seek a disciplined, systematic strategy to manage risk and return, active management has never been easier. And these investments have never been more accessible – all because our four-step process sets us apart.

Step one: We will help you complete a comprehensive Investment Policy Questionnaire which is is used as a starting point to determine risk tolerance, time horizon and return expectations. Asset Management Services develops the kind of forward-looking risk and return assumptions that move beyond just using historical data, which has been shown to encourage trend-chasing behavior in even the most sophisticated investor.

Step two: Asset allocation choices are constructed and presented for full discussion. You'll find that the forward-looking capital markets assumptions are used in a sophisticated optimization process that seeks to maximize the return potential at each level of risk in an approach that is specifically selected to fit your situation and respects your dreams for the future.

Step three: Managers are selected and portfolios created. We do more than just examine a manager's total returns, we isolate their efforts from the effects of the market, seeking to identify manager skill. We treat portfolio construction as a distinct piece of the process.

Step four: We proactively and continuously monitor each element of the program. We scrutinize every manager in an effort to proactively identify issues that could impact performance. We search for potential managers who meet strict requirements. You can be confident that you have access to a broad range of investment alternatives and that your portfolio is being managed in a manner that's customized, comprehensive and ongoing. All this frees you from the day-to-day monitoring of your investments. And you don't have to sacrifice quick response when your life changes.

Investing involves risk and you may incur a profit or a loss. There is no assurance that any investment strategy will be successful.

Managed Accounts

We believe there is great potential in today's wide range of investment alternatives – and we recognize a corresponding increase in complexity as well. That's why Raymond James is dedicated to providing institutional-quality portfolio options for individual investors; we believe that individual investors deserve a disciplined, systematic strategy to manage risk and return.

With a managed account, you'll gain access to carefully selected institutional money managers and a process designed to help you to more systematically diversify your holdings. We help you select a portfolio that closely matches both your financial objectives and your level of risk tolerance. Then we systematically monitor risk and return on an ongoing basis.

We believe it's a powerful approach. Working closely with your financial advisor, you'll invest using a process similar to that used by the most sophisticated institutions.

There is no assurance that any investment program will result in success. Investing involves risk and investors may incur a profit or a loss. Separately Managed Accounts (SMAs) may not be appropriate for all investors. SMA minimums are typically $100,000 and greater, thus SMAs may be more appropriate for affluent investors with $300,000 or more to invest. While diversification may be achieved within an individual SMA, due to holdings typically numbering between 20 and 70 securities, it is recommended that clients utilize multiple SMAs with varied investment disciplines (growth, value, large-cap, mid-cap, etc.) to achieve greater diversification. It is important to review investment objectives, risk tolerance, tax objectives and liquidity needs before choosing an investment style or manager. In making an investment decision an individual should utilize other information sources and the advice of their financial advisor.

Diversification does not ensure a profit or guarantee against a loss.

What Is a Managed Account?

A separately managed account is one that's owned by the individual investor and monitored by a professional money manager. In the past, only institutional investors (like large pension plans and endowments) could get access to professional money management firms. But that's changed. Now the services of these money managers are within reach of individual investors just like you.

There is no assurance that any investment program will result in success. Investing involves risk and investors may incur a profit or a loss. Separately Managed Accounts (SMAs) may not be appropriate for all investors. SMA minimums are typically $100,000 and greater, thus SMAs may be more appropriate for affluent investors with $300,000 or more to invest. While diversification may be achieved within an individual SMA, due to holdings typically numbering between 20 and 70 securities, it is recommended that clients utilize multiple SMAs with varied investment disciplines (growth, value, large-cap, mid-cap, etc.) to achieve greater diversification. It is important to review investment objectives, risk tolerance, tax objectives and liquidity needs before choosing an investment style or manager. In making an investment decision an individual should utilize other information sources and the advice of their financial advisor.

All investments carry a certain degree of risk and no one particular investment style or manager is suitable for all types of investors. Statements made herein should not be considered forward looking, and are not guarantees of future performance of any investment.

A complete schedule of charges associated with Raymond James Consulting Services is available in the Schedule H Brochure of the RJCS Client Agreement, which are available from your financial advisor.

Separately Managed Accounts

The Features of Separately Managed Accounts

  • Customized management of your portfolio
  • Fee-based structure based on the level of assets. No traditional commissions.
  • Professionally Managed
  • Strategic tax planning potential

Potential for strategic tax planning includes gain/loss harvesting and management of low cost basis positions. Limitations may apply and services may not be available with every discipline. Please contact your financial advisor for additional information.

Our Role As Your Advisor

No one knows you better than we do. It's likely that you share information with us to which only your closest family members are otherwise privy. That's why any sound investment program should be based on a personal relationship that is open, trusting and respectful.

You deserve the professional advice of a financial advisor whose interest is vested in the success of your portfolio. Let us keep tabs on the global financial marketplace, monitor allocations, diversification and progress towards long term goals. We can help you make informed, professional choices and help you construct a plan designed with your goals in mind.

We have access to resources that enable us to:

  • Offer the kind of services that meet sophisticated challenges head-on
  • Focus on risk management through asset class diversification
  • Guide you in selecting an appropriate asset allocation model
  • Monitor your allocation
  • Asset Management Services selects quality portfolio managers
  • Utilize forward-thinking research

There is no assurance that any investment strategy will be successful. Diversification does not ensure a profit or guarantee against a loss.

Freedom

The Freedom Account

Industry-leading approaches to investment management and risk analysis.

This mutual-fund wrap program provides institutional-quality investments with no traditional sales charges or transaction charges, just a simple, asset-based fee. Your portfolio is constantly monitored and rebalanced annually.

The Freedom Account is Different

  • A comprehensive investment process

    You get a systematically diversified mutual fund portfolio selected based on your personal risk tolerance and return objectives. Whether your investment style is conservative or aggressive - or somewhere in between - the Freedom Account can provide a portfolio that suits you. Your advisor will guide you through an evaluation of your expectations regarding risk and return.

  • Institutional-quality mutual fund selection

    Using forward-looking research, Freedom Account funds are selected by the professionals in Raymond James Asset Management Services Due Diligence. We select and hire managers who we believe have demonstrated the ability to add value through skill. We believe that, when it comes to mutual funds, manager selection and monitoring hold real power.

  • Ongoing review of portfolio holdings

    It takes time, rapport and industry expertise to monitor portfolios with meaningful detail. Our team evaluates investment managers and consistently tracks personnel movements. Our Due Diligence professionals' broad perspective of a dynamic environment can free you from constantly monitoring your portfolio.

  • Annual rebalancing

    Annual rebalancing helps keep your asset allocation in line with your objectives, ensuring that your account matches your original asset allocation target.

  • Comprehensive performance reporting

    In addition to monthly brokerage statements, you get informative statements that show performance details and progress of your Freedom Account. Expect quarterly performance reports summarizing market activity, contributions and withdrawals from the day you open your account. These reports show your preferred asset allocation and time-weighted portfolio performance data.

  • Fee-based

    With the Freedom Account, there are no traditional commissions. Rather, you pay an annual fee based on a percentage of the assets under management.* Freedom Accounts offer you an extra level of comfort knowing that Raymond James and your financial advisor have a vested interest in your success.

Further information on the funds selected for the Freedom Portfolios is available by prospectus, which can be obtained through your financial advisor. Investors should carefully consider the investment objectives, risks, charges and expenses of the Freedom Portfolios before investing. The prospectus contains this and other information about the funds and should be read carefully before investing.

Investing involves risk and investors may incur a profit or a loss. There is no assurance that any investment strategy will be successful.

In a fee-based account, clients pay a quarterly fee, based on the level of assets in the account, for the services of a financial advisor as part of an advisory relationship. In deciding to pay a fee rather than commissions, clients should understand that the fee may be higher than a commission alternative during periods of lower trading. Advisory fees are in addition to the internal expenses charged by mutual funds and other investment company securities. These internal expenses should be included when evaluating the costs of a fee-based account. Clients should periodically re-evaluate whether the use of an asset-based fee continues to be appropriate in servicing their needs. These additional considerations, as well as the Freedom fee schedule, are listed more fully in the Client Agreement and the Raymond James & Associate's Schedule H Brochure, which can be obtained through your financial advisor.

The Freedom ETF Account

For investors who desire a strategic approach to investing that gives them broad market exposure, the Freedom ETF Account could be appropriate. You get comprehensive, professional guidance along with a systematically constructed asset allocation that's filled with low-cost, tax-efficient exchange-traded funds (ETFs).

Further information on the funds selected for the Freedom Portfolios is available by prospectus, which can be obtained through your financial advisor. Investors should carefully consider the investment objectives, risks, charges and expenses of the Freedom Portfolios before investing. The prospectus contains this and other information about the funds and should be read carefully before investing.

Clients should be aware that exchange traded funds and mutual funds have unique distinguishing characteristics and their cost structures differ, sometimes significantly. A mutual fund is a type of investment company that pools money from many investors and invests the money in stocks, bonds, short-term money-market instruments, or other securities. An ETF is a type of investment company whose investment objective is to achieve the same or similar return as a particular market index. An ETF is similar to an index fund in that it will primarily invest in the securities of companies that are included in a selected market index. An ETF will invest in either all of the securities or a representative sample of the securities included in the index. ETFs may be bought or sold throughout the day in the secondary market, unlike mutual funds which are redeemed through the issuing company at Net Asset Value.

Mutual funds are typically actively managed, and as a result, the underlying management fees and operating expenses assessed by the fund companies are generally higher than those for ETFs (1% to 1.5% for mutual funds versus .20% to .30% for ETFs). Potential investors should understand that the annual advisory fee charged in the Freedom program is in addition to the management fees and operating expenses charged by mutual funds and exchange-traded funds. In addition, mutual funds may impose short-term trading charges (typically 1% to 2% of the original amount invested) which are generally NOT waived for fee-based accounts.

Raymond James Consulting Services

Institutional Quality Portfolios for Individual Investors

We believe there is great potential in today's wide range of investment alternatives - and we recognize a corresponding increase in complexity as well. That's why Raymond James Consulting Services provides institutional-quality portfolio options for individual investors; we believe that individuals who invest in today's dynamic marketplace deserve a disciplined, systematic strategy to manage risk and return.

We use an institutional approach to building portfolios for individuals. You gain access to carefully selected institutional money managers and a process designed to help you to more systematically diversify your holdings.

We help you select a portfolio that closely matches both your financial objectives and your level of risk tolerance. Then we systematically monitor risk and return on an ongoing basis.

Raymond James Consulting Services is different

Discipline. Process. Knowledge. When it comes to investment insight, we believe ours is a powerful approach. Working closely with us, you'll invest using a process that was formerly available only to the most sophisticated institutions.

Building Your Portfolio: Four Essential Steps

Raymond James Consulting Services takes an institutional approach to building individual investment portfolios. Our disciplined process is founded on the investment techniques used by some of the largest, most sophisticated institutions.

Ultimately, intelligent and timely investment decisions can only be made with solid information. That's one reason we provide forward-looking research; it's a key resource as investor and advisor tackle the very real challenges of today's environment.

We appreciate the challenges inherent in a complicated marketplace, and see every day the compelling power that investment decisions can have on people's lives. We know that when your family's legacy is at stake, there is no substitute for an approach to investing that is reasoned, rational and scrupulously objective.

Raymond James Consulting Services
Our unique four-step process

Step 1
We lay the groundwork by setting your return objectives and assessing your tolerance for risk. In step one, we develop forward-looking risk and return assumptions based on economic data and indicators. These forward-looking capital markets assumptions make it possible to move beyond simply using historical data, which has been shown to encourage trend-chasing behavior in even the most sophisticated investor.

Step 2
Asset allocation choices are constructed. This step is important because every investor has a unique risk comfort level, and we have developed portfolios that target a broad range of risk levels. The forward-looking capital markets assumptions are used in a sophisticated optimization process that seeks to maximize the return potential at each level of risk.

These portfolios provide you with diversification that is intended to reduce the overall volatility of your portfolio, allowing you to stay on track in attaining your goals. Be aware that asset allocation has been shown to be responsible for 90% of the variability of returns over time.

("Determinants of Portfolio Return," Brinson, Beebower & Associates, 1986, 1991 & 1995)

Step 3
Managers are selected and portfolios assembled. Hiring a manager requires confidence that the manager can add value, and Raymond James Consulting Services evaluates manager skill separately from the effects of the market overall. We do more than simply examine a manager's total returns, we isolate their efforts from the effects of the market seeking to identify manager skill. Portfolio construction involves filling in the asset allocation with the appropriate managers.

We treat portfolio construction as a distinct piece of the process. We seek to combine these managers in ways that help maintain the integrity of the asset allocation by avoiding unintentional biases in the portfolio.

Step 4
We proactively and continuously monitor each element of your program. We believe that monitoring your situation through periodic reviews is critical, and Raymond James Consulting Services observes and updates the capital markets assumptions in an attempt to provide efficient asset allocations.

We continuously monitor all managers in an attempt to proactively identify whether there are any changes to their situations or investment processes that could impact performance. We also search for and evaluate potential managers who meet our strict requirements for inclusion. You can be confident that you have access to a broad range of investment alternatives.

Investing involves risk and you may incur a profit or a loss. There is no assurance that any investment strategy wil be successful.

Diversification does not ensure a profit or guarantee against a loss.

What Else Should You Know About Fee-Based Accounts?

In an asset-based fee relationship, you pay a fee (charged quarterly) based on the level of assets for the advice and services provided by your financial advisor as a part of the advisory relationship. This fee is based on the level of assets in your account, independent of the level of trading activity. By deciding to pay a fee based on services provided rather than transactions, you should understand that the fee may be higher than the cost of a commission alternative during periods of lower trading activity.

You should understand that the advisory fee charged in the Passport investment account is in addition to the management fees and operating expenses charged by open-end, closed-end and exchange-traded funds. To the extent that you intend to hold fund shares for an extended period of time, these internal fund expenses should be added to the advisory fee when evaluating the costs of a Passport account. Additionally, certain mutual fund families impose short-term trading charges (typically 1 to 2% of the original amount invested) which are generally NOT waived for fee-based accounts.

Additional Considerations

You should consider these factors when deciding whether a fee-based account is right for you: i) your past and anticipated investment activity, ii) past and anticipated use of the products and services available in the account, iii) the value and type of eligible assets, iv) the costs and potential benefits of the service, v) investment objectives and goals, vi) additional financial and planning services provided by your financial advisor, vii) personal preferences concerning available payment alternatives.

You should also consider whether it would be better to pay separately for each trade executed and each product and service used. Since these factors may change, you should periodically re-evaluate whether the ongoing use of a particular asset-based fee program continues to be appropriate for your needs.

Please ask your financial advisor for a complete schedule of charges associated with the Passport account, available in Form ADV Part II or the Passport client agreement.