MutualFundWire.com: Datalynx Partners with PMC For Separate Accounts
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Monday, July 19, 1999

Datalynx Partners with PMC For Separate Accounts


Datalynx, the First Trust owned fund supermarket, and Portfolio Management Consultants, Inc. (PMC) announced today that they have teamed up to provide separately managed accounts for Datalynx's financial advisors.

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    • The new relationship will better position advisors for the high-net worth market, according to Skip Schweiss, vice president of Datalynx. It will allow advisors to manage the mutual fund business while allowing an institutional money manager to handle stock and bond portfolios.

    "This agreement represents a significant event for financial advisors working with First Trust," said Scott A. MacKillop, president of PMC. "They can now offer both mutual fund portfolios and separate accounts to their clients, which gives them tremendous flexibility in tailoring client-focused investment solutions. Financial advisors who also use our services on the mutual fund side have the exceptional advantage of receiving a PMC consolidated report covering all of their clients' managed assets."

    PMC, which manages $4 billion in separate accounts and mutual funds, will perform due diligence on the managers, prepare proposals for advisors, provide all portfolio account services, and prepare quarterly performance reports on each account.

    The advisors will in turn handle all of the direct communication with clients, developing investment strategies and managing the performance review process.

    First Trust and PMC will work together to market the separate account program and provide training to financial advisers working with Datalynx.

    The new alliance was developed, according to the companies, in response to a growing number of investors wanting to complement existing mutual fund portfolios with individual securities portfolios.

    "The separate account service enhances the advisor-client relationship because it lets advisors continue doing what they do best: provide personal service," said Schweiss. "Separate accounts give advisors the opportunity to expand and enhance their client base, particularly for clients moving into higher net worth positions."


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