SAN DIEGO -- Following a trend of what some say is a growing 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 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.
CUSO Financial serves more than 110 credit unions.
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