Products April 16, 2008

Callan, Natixis Team to Release UMA Offering

Callan Associates’ Independent Adviser Group (IAG) and Natixis Global Associates’ Managed Portfolio Advisors (MPA) have announced the Callan Unified Managed Account (UMA) program.
Reported by

A news release from the two firms said the UMA is designed for independent investment consultants and financial intermediaries servicing high net worth individuals, family offices, endowments, foundations, and retirement plans. According to the companies, the UMA program is designed for investors with assets of $1 million to $150 million and is only available to IAG clients.

IAG will provide investment manager selection, ongoing due diligence, and quarterly performance reports to UMA clients, while MPA will execute strategy implementation, tax management, and rebalancing. Advisers using Callan’s UMA program can build customized, portfolios utilizing more than 70 investment products, including 29 account strategies as well as a variety of mutual fund and exchange-traded fund (ETF) choices.

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“What is unique about Callan’s UMA program is that middle market investors get the same flexibility and access to research as our institutional clients without the operational challenges or high fee structures of existing separate account programs,” said Brent Considine, senior vice president, IAG, in the announcement.

Some additional benefits of the program include, according to the announcement:

  • A turnkey investment management solution;
  • Ability to customize allocations and manager structures per account;
  • Portfolio coordination across multiple managers within the UMA;
  • A la carte menu of high quality investment products;
  • Single contract solution;
  • Fee transparency;
  • Client-specific comprehensive performance measurement reports;
  • Detailed analytics and qualitative due diligence on underlying managers; and
  • Automatic portfolio rebalancing and strategic tax management.

More information is available at www.callan.com.

Deals & People April 16, 2008

AIG Adviser Group Names New SVP and General Counsel

AIG Advisor Group has named Noah Sorkin to the newly created position of Senior Vice President and General Counsel.
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Sorkin will be responsible for managing all legal and regulatory functions impacting the independent broke/dealers of AIG Advisor Group and will will report to Christine Nixon, Senior Vice President and General Counsel, AIG Retirement Services.

Sorkin joins AIG Advisor Group from Fidelity National Financial, Inc. where he served as Senior Vice President, responsible for supervising litigation and regulatory matters for the firm. Before Fidelity, he was at Oppenheimer & Company, Inc., a full-service broker/dealer and investment advisory organization, where he served as Deputy General Counsel and Director of Litigation.

The AIG Advisor Group, Inc. is the largest independent broker/dealer network in the United States, with more than 7,500 independent financial professionals. It consists of the following wholly-owned independent broker/dealers subsidiaries: AIG Financial Advisors, Inc., FSC Securities Corporation and Royal Alliance.

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