EnvestnetPMC Adds Two Managers
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Tuesday, January 07, 2003

EnvestnetPMC Adds Two Managers

EnvestnetPMC has added two managers with three portfolios to its separately managed accounts program. The additions bring the total number of managers to more than 80 (with more than 150 portfolios), said Bill Crager, executive vice president at the Chicago-based firm.

The two new managers on the platform are Transamerica Investment Management, which saw its large cap growth portfolio put on the platform, and ICM Asset Management of Seattle. EnvestnetPMC added both the SMID (small- to mid- growth) and small cap portfolios from ICM.

In both cases the selection process considered more than just the firm's investment performance, explained Crager. As important was the managers' ability to work with financial advisors.

"Overall, the issue of selectivity from a track record standpoint has become more important to gain access to these platforms as well as willingness and knowledge about the advisors practice," said Crager.

He noted that Transamerica's Large Cap Growth portfolio is "top tier" in terms of performance and that the firm also brings "a lot of marketing and industry knowledge" to the platform. "We continue to look for managers that have unique or special track records as well as ways to enhance the advisors practice. Transamerica is a great example of that," he added.

Although Transamerica will offer one of 14 large cap growth portfolios on the platform, it will be only one of four that are "recommended" offerings to advisors.

The two managers went live on the platform last week and Crager confirmed that EnvestnetPMC is planning to announce more manager additions over the next few months. He declined to reveal what types of mandates those additions represent.

On the distribution side of the equation, Crager said that TD Waterhouse, its largest recent partner, would go live with its managed account platform at its national conference to be held in Los Angeles in February.

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