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Article: Planners laud no-load funds over wraps, VAs. (financial planners, no-load mutual funds, wrap account programs, variable annuity)(Financial Planning Review)
- Article from:
- National Underwriter Life & Health-Financial Services Edition
- Article date:
- September 20, 1993
- Author:
CopyrightCOPYRIGHT 1993 Summit Business Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Managing client investments via a portfolio of no-load mutual funds is less expensive and can provide greater diversification than either variable annuities or wrap account programs, according to financial planners.
Planners contracted by National Underwriter said the no-load mutual fund approach is cheaper, offers wider investment choices and more diverse management styles than wrap account programs - which typically charge single annual fee of up to 3 percent of assets for providing a personal money manager, asset allocation, trading and administration.
Variable annuities, while offering a tax advantage, are also generally less attractive than the ...