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What is the difference between Managed Solutions (ex. Mutual Funds and ETFs) versus Separately Managed Accounts (SMAs)? Managed solutions often have higher management fees

What is the difference between Managed Solutions (ex. Mutual Funds and ETFs) versus Separately Managed Accounts (SMAs)? Managed solutions often have higher management fees than SMAS When you invest in SMAS, you own all the individual securities within your portfolio SMAS can only be purchased through a licensed retail portfolio manager Managed solutions have a maturity date that is shorter than SMAS

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