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In
our United Managed Accounts, the investment advisor sponsors various
asset allocation accounts in which clients are offered various models
composed of Exchange Traded Funds, Money Managers, Mutual Funds,
equities and other investment vehicles.
The
investment advisor assists the client in completing an investment
profile questionnaire in which the client discloses investment goals,
objectives, and risk tolerance. Based on the client information in the
profile, the IAR recommends a model in which the client may invest. The
IAR has trading discretion to allocate a client’s account among
models, as well as to mutual funds and exchange traded funds, and to
rebalance the account according to a strict investment discipline.
The
selected Portfolio Managers are provided information about the client
including any specific limitations on the account the client wishes to
put in place.
A PM may
reject the account for any reason. However, unless the client has
requested limitations that the PM cannot feasibly accommodate, they
will normally accept the account. Although WAM's IARs are not
prohibited from recommending WAM Portfolio Managers to clients,
disclosure to the client of any affiliation is required, in addition to
an eventual conflict of interest inherent in the recommendation and
additional revenue to WAM.
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