Separately Managed Accounts

Unlike mutual funds, which consist of pooled investments, separately managed accounts (SMAs) are private accounts that are independently managed by an investment manager.


SMAs illustrate the potential benefits of having a specific set of investments selected around certain investing objectives. Their highly customized structure may allow investors to better target and satisfy their specific investing needs.


SMAs require a higher level of initial investment so they generally target high-net worth retail investors with minimum initial investments that can start around the $100,000 mark.

Convenience & Accessibility

Especially when it comes to taxes, SMAs provide certain efficiencies that pooled investment structures do not.