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Test Your Knowledge: Managed Money

1) Which of the following are considered features of a managed account

A. Fee based instead of transaction based

B. Large range of strategies available

C. No surrender periods

D. All of the above

2) Which of the following is not considered a reason to use a managed account process

A. The client does not have the time to monitor their investments on a day-to-day basis

B. The client only wants to pay when something is done in their account

C. The client does not have the expertise to create their own portfolio

3) True or false. Managed accounts are often considered more in line with the best interest of the client due to the lack of “churning” to create transactional revenue

A. True

B. False

4) Managed accounts

A. Are only appropriate for aggressive investors

B. Have set contribution limits

C. Use a set fee based approach to make fees more transparent

D. Are only for high net worth clients

5) True or false. Managed accounts are very limited in what is offered in terms of strategies, asset classes, or sectors.

A. True

B. False

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