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A separately managed account (SMA) is an actively managed investment vehicle that offers individual investors access to customized investment solutions which can be tailored to an investor’s unique needs. Unlike a mutual fund, which also offers access to professional money managers, a separately managed account is a portfolio of individually owned securities managed for a specific investor.
SMAs are most appealing to clients with significant assets who may have special tax considerations, such as capital gain/loss management and coordination with existing holdings. SMAs also offer several other key benefits to affluent investors, including institutional asset management, customized portfolio selection and management, and a fee-based structure.
Investing (including mutual funds and ETFs) carries risk, including the loss of principal, and there can be no assurance that any investment strategy will provide positive performance over a period of time. The asset classes and /or investment strategies described above may not be suitable for all investors. Investors should first consult with an investment advisor before investing. Investment decisions should be made based on the investor’s specific financial needs and objectives, goals, time horizon, tax liability and risk tolerance. When investing in managed accounts and wrap accounts, there may be additional fees and expenses added onto the fees of the underlying investment products. For a complete description of all fees, costs and expenses, please refer to the Envestnet Form ADV Part 2A or Form ADV Part 2A - Appendix 1 as applicable. Past performance is no guarantee of future results. Neither Envestnet, PMC nor its representatives render tax, accounting or legal advice.