Wealth management firms are providing holders of their wrap and discretionary management accounts with effective and informative statements, according to research firm DALBAR Inc.

DALBAR examined statements sent to clients owning these products and found them very strong in their presentation of performance information, investment commentaries, and fee disclosure.

“We found that these statements are generally very effective at covering some areas that get less attention on other financial product statements. It’s apparent that companies realize that clients owning these products have more refined information needs, and they’re taking the appropriate steps to meet them. The statements provide more context around the account’s performance and are more forthcoming when discussing the fees that investors have paid,” said Mark McDonald, client relationship manager in DALBAR’s Toronto office, in a release.

DALBAR rated six statements sent to holders of wrap accounts and eight sent to discretionary management clients, and found that Franklin Templeton Investments produced the most effective statements for both. Its wrap account statement received a score of 80.52 of 100 points, and its discretionary management statement received one of 78.69.

Other companies that produced effective documents were AGF Management, Mackenzie Financial Corp., and First Asset Advisory Services.

http://www.newswire.ca/en/releases/archive/November2004/01/c6488.html