Edward Jones has launched a fee-based managed investment program designed for investors who want to hold a diversified portfolio of mutual funds without trading on a day-to-day basis, the investment dealer announced on Tuesday.
The Edward Jones Portfolio Program allows investors to choose from 11 portfolio models managed by SEI (NASDAQ: SEIC), a provider of outsourced wealth management solutions.
“We are pleased to provide our clients with this comprehensive program to help achieve their long-term financial goals,” said Mary Chan, principal of the mutual funds and managed account program at Edward Jones. “We strongly value feedback from our most important audience – our clients. By listening to what they have asked for, we’ve built a flexible program that allows investors one more option in developing a diversified and balanced investment portfolio.”
The portfolio models are designed to meet a range of investors’ goals, timeframe and risk tolerance, and are built on the principles of asset allocation and active investment management. The program uses a “manager-of-managers” investment strategy of hiring global money managers to execute specific mandates based on their area of expertise.
The launch of the program comes after a year-long search for an investment manager who excelled in asset allocation, portfolio construction, objective manager selection and rigorous due diligence processes, Edward Jones said.
“We are honoured to be awarded the opportunity to manage the new Edward Jones Portfolio Program,” said Janesse McPhillips, managing director of global wealth services at SEI Canada. “From the outset, Edward Jones wanted a client-focused approach and we believe the program offers clients a highly comprehensive and robust service.”
The minimum investment in the Edward Jones Portfolio Program is $50,000. Investors pay an annual fee based on the value of the investment, rather than paying commissions each time they buy or sell investments.
“The automatic rebalancing of the Portfolio Models means that investors can focus on other things in life and step back from the investment decision-making emotional rollercoaster of oft-changing market movements, plus have the expertise of professional money mangers traditionally available only to large institutional clients,” Chan said.
IE