MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, October 27, 2000 No-Load Firm Adds Planning Service The traditional line between load and no-load funds is continuing to grow more fuzzy. The latest to blur the divide is T. Rowe Price which is now offering investors the a financial plan prepared by its own staff of financial advisors. The Investment Checkup will be offered at no cost to investors with more than $500,000 in assets at T. Rowe Price. Those with fewer assets must pay $250. The plan will provide a recommended asset allocation based on a detailed questionaire of the individual's goals and situation. It will also take into account all of the investors financial assets and base the allocation recommendation on the investor's risk tolerance. Each investor will be assigned a financial advisor at T. Rowe Price who will explain the recommendations and answer investor questions. That advisor will recommend specific T. Rowe Price funds to implement the asset allocation if the investor requests it. The service will also be available to non-clients who pay the fee. The new service fits the fund firm's move into providing advisory services to meet specific needs, explained spokesperson Steven Norwitz. "We are trying to address the need for asset allocation and whether an investor's allocation is appropriate given the goals and risk tolerance. Many people may just want a second opinion," he added. To meet the needs of this service the fund firm has developed a financial planning staff which is still "growing", according to Norwitz. The firm is getting the word out on the service through notices to existing shareholders and a link on its Web site. It also ran an ad in Barron's and is planning a "broad" advertising program. Printed from: MFWire.com/story.asp?s=26196 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |