Everything You Need to Know to Establish a Separate Accountand Control Your Own Private Mutual Fund
Mutual fundsbecause of their lack of investment control, hidden fees, and inequitable tax liabilitiesare on their way out. Investing in Separate Accounts covers the numerous advantages of separate accounts over mutual funds and explains why separate accounts have become the new investment of choice for knowledgeable investors.
Acclaim for Investing in Separate Accounts...
"Kevin Freeman, as developer of the Franklin Templeton Private Client Group, built a wealth of experience and wisdom which he shares with you in Investing in Separate Accounts."Sir John Templeton
"Here is the first comprehensive publication that tells the powerful story of managed accounts, how they work, and why they are positioned to dominate in the delivery of investment consulting services in the years ahead."Christopher L. Davis, Executive Director, The Money Management Institute
"Investing in Separate Accounts is a great book for investors who want to learn how separately managed accounts can help meet their investing objectives."Steven M.H. Wallman, Founder and CEO, FOLIOfn
"This is the first truly insightful book I have read on the next really big thing: separate accounts."Jamie Waller, Director of Separate Accounts, Citigroup Asset Management; Former Partner, Checkfree APL
"(Erik Davidson and Kevin Freeman's) separate account solution shows a long-term vision for the wealth management clients need."W. Reay Mackay, Vice Chairman, RBC Financial Group
"Clearly, separate accounts have strong selling points. Unlike investing in a mutual fund and immediately being exposed to the fund's embedded capital gains, an investor has some say over stock purchases and sales in a separate account, giving him better control over his tax bills. Another advantage is that investors can say no to a stock they don't want to owna tobacco company or defense contractor, perhapsor one they already own in such quantity that they don't want any more."The Wall Street Journal
Control over your own investment portfolio ... no embedded capital gains liabilities or hidden fees ... greater ability for tax-related trading... a personal investment advisor "on call." ... For millions of average investorsnot to mention today's most trusted investment publicationsthe advantages of separate accounts over mutual funds have become impossible to ignore. Investing in Separate Accounts details all of the advantages of separate accounts, explaining how separate accounts work, where and how to open one, how to assure yourself of an account manager with a successful track record, and more.
This hands-on book covers every aspect of opening and maintaining a separate account. From how to open a separate account with $50,000 or less to strategies for trading successfully within that account, Investing in Separate Accounts explains everything you need to know about:
- FeesWhat separate accounts cost, and why you'll never be surprised by a charge
- TaxesTechniques to offset profits or losses from other investments
- TransparencyHow to always know how and where your money is invested
- ControlWays to concentrate investments onor avoidcertain stocks or sectors
- PersonalizationHow to instruct the fund manager to structure your account the way you want it
The writing is on the wallseparate accounts have replaced mutual funds to become today's most versatile, customizable vehicle for individual investors. Let Investing in Separate Accounts explain their benefits, highlight their many features, and help you make an informed decision on whether separate accounts are right for you.
Eric H. Davidson, CFA, and Kevin D. Freeman, CFA, cofounded Separate Account Solutions (www.SeparateAccounts.com) and are recognized authorities on separate accounts. Davidson previously worked in the private client division of Franklin Templeton (Templeton Portfolio Advisory) as managing director of portfolio operations, and was responsible for oversight of the division's more than 2,500 separate account portfolios, representing nearly $2.5 billion in assets under management. Freeman is the former managing director for Templeton Portfolio Advisory, where he was instrumental in Templeton's becoming the first major mutual fund complex to offer separate accounts.
Brian O'Connell is a freelance business writer. He has written numerous books on financial topics, including CNBC Creating Wealth and The 401(k) Millionaire.
