RICHMOND, Va., March 15, 2011 /PRNewswire/ -- Raymond James Asset Management Services together with RiverFront Investment Group introduced four new model portfolios on the Raymond James Freedom Unified Managed Account platform. The new Freedom Dynamic UMA portfolios incorporate RiverFront's separately managed account portfolios as the dynamic engine in the Dynamic Growth, Dynamic Balanced, Dynamic Balanced with Growth and Dynamic Equity Income Freedom UMA portfolios. The account minimums are $300,000.
"We are honored to have the opportunity to further strengthen our long standing partnership with Raymond James and offer these new UMA models on the Freedom platform," said Michael Jones, RiverFront's Chairman and Chief Investment Officer. "These new portfolios bring together an innovative combination RiverFront's Dynamic Strategic asset allocation strategies and Raymond James preferred alternative investment capabilities. The goal is to provide investment solutions that can manage portfolio risk, even in a rising interest rate environment."
Raymond James introduced its Freedom UMA platform in 2008 and now offers more than 50 asset allocation models across six investment objectives to accommodate investor needs. Utilizing institutional-quality techniques, portfolios are constructed with multiple separately managed accounts (SMAs). Mutual funds in selected asset classes provide further diversification for some models.
"The Freedom platform has proven to be a valuable tool in helping our clients reach their financial goals," added George Raffa, National Director of Sales for Raymond James Asset Management Services. "We are very pleased to be expanding our relationship with RiverFront and partnering with them to enhance our Freedom offerings."
Unified Managed Accounts are one of the fastest growing segments in the managed solutions industry. They allow clients and FAs to deliver multiple investment disciplines in a single integrated custody account. RiverFront's industry leading transparency that allows advisors to view RiverFront's portfolio holdings on a daily basis and communicates trade rationales on a regular basis is uniquely suited to serve the growing UMA marketplace.
RiverFront Investment Group, LLC, is an independent SEC-registered investment advisor located in Richmond, Virginia, managing in excess of $2.7 billion in a series of global tactical asset allocation separate account and mutual fund portfolios. RiverFront also provides indexes for two ETFs. Majority owned by its employees, the firm provides asset management, investment advice, and leading-edge market insights. RiverFront serves as sub advisor to the ALPS FIT Series Trust to offer a series of global asset allocation mutual funds. RiverFront's minority investors include Robert W. Baird & Co. (Baird) and Private Advisors, LLC. For more information about RiverFront please visit www.riverfrontig.com.
About Raymond James Financial, Inc.
Raymond James Financial (NYSE: RJF) is a Florida-based diversified holding company providing financial services to individuals, corporations and municipalities through its subsidiary companies. Its three principal wholly owned broker/dealers, Raymond James & Associates, Raymond James Financial Services and Raymond James Ltd. have more than 5,300 financial advisors serving 1.9 million accounts in 2,300 locations throughout the United States, Canada and overseas. In addition, total client assets are approximately $266 billion, of which approximately $34 billion are managed by the firm's asset management subsidiaries.
To the extent that Raymond James makes or publishes forward-looking statements (regarding management expectations, strategic objectives, business prospects, anticipated expense savings, financial results, anticipated results of litigation and regulatory proceedings, and other similar matters), a variety of factors, many of which are beyond Raymond James' control, could cause actual results and experiences to differ materially from the expectations and objectives expressed in these statements. These factors are described in Raymond James' 2010 annual report on Form 10-K and the quarterly report on Form 10-Q for the quarter ended December 31, 2010, which are available on RAYMONDJAMES.COM and SEC.GOV
SOURCE RiverFront Investment Group