Many investors who reach one million dollars or more of investable assets often choose to consolidate numerous accounts into one, or to consolidate accounts with one advisory firm.  This can be done for many reasons including:  1)  transitioning from the accumulation to the income phase  2)  ease of estate planning  3)  creating a more defined management approach, and ease of reporting among others. 

Approaching the income phase of retirement requires different thinking to the pure accumulation period where volatility can seriously impact retirement income.  Our institutional accounts can be underpinned with a guaranteed variable annuity to create a floor of income for life depending on client needs.      

Institutional Fee Based Accounts utilize best in class third party managers optimized in one account, with lower fees compared to a traditional retail mutual fund account.  It is not uncommon for this strategy to have lower fees than bank owned brokerage firm ‘wrap type’ accounts.    

Larger amounts allow access to certain money management firms who may not be available with smaller account sizes.         

Tax deductibility of fees further reduces the cost of managing this type of account. 

Utilizing best of breed third party managers is a similar approach and structure to the family office concept, or what Fortune 500 companies would use in managing billion dollar pension funds.  This is a far superior approach than consolidating assets with one single investment counseling firm.