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Article: Customized approach works well for boutique firm.(Street Wise)
- Article from:
- Investment News
- Article date:
- June 25, 2007
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. 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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Byline: Jeff Benjamin
As the separately managed account industry swells to about $1 trillion, gaining momentum through the popularity of mass-marketed model portfolios, at least one boutique asset management firm is clinging to a more customized approach.
Abner Herrman & Brock LLC, a $750 million Jersey City, N.J.-based money manager, is leveraging in-house strategies such as its large-cap-core balanced portfolio to help financial advisers prevent their clients from running out of money in retirement.
Of the $275 million that AHB manages in the strategy, about half is managed on behalf of advisers for their clients. The rest of the money is ...