SAN DIEGO -- As an alternative to traditional, commissioned-based relationships, CUSO Financial Services LP has launched three fee-based accounts for credit unions.
The CUSO Asset Management suite includes ETF (Exchange Traded Funds), Index Plus (Index Mutual Funds), and UMA (Unified Management Account). Fee-based asset management provides investors with an alternative to the more traditional "commission-based" relationship with their investment advisors, according to CFS. In a typical fee-based, fully managed account relationship, the investor pays an annual fee based on a percentage of assets being managed.
Over the past several years, CFS said it has focused on expanding its fee-based offering in terms of both products and sales support. Fee-based assets grew more than 50% in 2007, the CUSO said.
"Just as we continue to develop innovative programs to support both large and small credit unions, we know it is important that our investment advisors have access to a robust menu of advisory products and sales support that will allow them to serve the varied needs of a diverse group of investors," said Valorie Seyfert, CEO of CUSO Financial.
CUSO Financial serves more than 110 credit unions.
