Schwab Portfolio Manager Steps Down To Run Independent SMA Shop

Tuesday, August 16, 2011 08:30
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Schwab Portfolio Manager Steps Down To Run Independent SMA Shop

Tags: investing

Daniel Kern used to run mutual funds at Charles Schwab, but now he's bringing that expertise to an independent separate managed account platform.

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Advisor Partners, which generates SMAs and other actively managed portfolios for independent advisors looking to hand off the investment side of the business, just hired Kern as president of the company.

 

He's looking forward to putting his asset allocation skills to good use -- one of the things he did at Schwab was work on their target-date strategies -- and is especially eager to work with advisors.

 

While SMA adoption has stalled a bit, moves like this demonstrate that managed portfolio programs are alive and well.

 

Advisors have been intrigued by the notion of outsourcing the tough securities selection tasks to specialists, which lets them concentrate on the more profitable work of meeting and keeping clients.

 

 

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