Accolade Investment Advisory LLC, a wholly owned CUSO of Southeast Corporate Federal Credit Union, said it finished 2011 with nearly $1.2 billion in assets under management.
The latest figure is an increase from the $900 million in assets under management at the end of 2010, according to the CUSO based in Tallahassee, Fla.
Last year, Accolade transacted nearly $800 million in trades, which was an increase of almost 30% from 2010, the CUSO said. Accolade President Peter Gibson said the firm was able to save its credit union clients an estimated $1 million in 2011 by accessing the firms that own and originate securities as opposed to using regional broker dealers.
Accolade provides portfolio management, investment portfolio strategy and trade execution, asset-liability management services, investment accounting, security safekeeping, regulatory and board reporting, and policy development.
Southeast Corporate announced plans last year to merge with Corporate One based in Columbus, Ohio.