Waddell & Reed

Separately Managed Accounts (SMA)

A separately managed account (SMA) gives you the freedom to hold securities of the same type (such as stocks) in an individual account. It differs from a mutual fund where you own shares in a pool of securities and from a unified managed account where you can hold a variety of security types in a single account.

Your Waddell & Reed financial advisor can help you establish an SMA allowing you to invest in a wide range of equity and fixed income securities from leading asset managers. Lockwood Advisors, Inc., our managed account partner, performs all due diligence and investment manager selection.

Lockwood Advisors, Inc., responds to the needs of the market as it:
  • Applies a multi-disciplined approach designed to identify talented money management firms.
  • Introduces new money managers in response to client needs
  • Maintains ongoing monitoring and review of money managers
  • Removes money managers when appropriate
  • Communicates the results of their work to you on a timely basis

For more information on establishing a separately managed account, contact your Waddell & Reed financial advisor or search for an advisor in your area.

Not all account types may be available on all platforms. Some products & services may not be available with all accounts. Brokerage, investment and financial advisory services are made available through Waddell & Reed, Inc., in its capacity as a registered investment adviser. Brokerage accounts cleared through Pershing LLC. For a full description of managed account services, including fees and expenses, review the Advisory Services Informational Brochure for your Choice Account. Investors should read this material completely and carefully as well as the Schedule H provided by Lockwood and the Form ADV, Part II provided by each Manager the client selects. Investors should not invest in the SMA program without first reading thoroughly all of these important disclosures.

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