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.

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"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.

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