For more stories like this, sign up for the PLANADVISERdash daily newsletter.
Products June 16, 2009
Commonwealth Adds Portfolios with Alternative Asset Classes
Commonwealth Financial Network announced the addition of three portfolios with alternative asset classes to its lineup of in-house managed portfolios.
Reported by Ellie Behling
Commonwealth said it is the first series of its kind for the independent broker/dealer. According to a news release, the Preferred Portfolio Services (PPS) Select Portfolios with alternatives contain varying percentages of long/short, market neutral, commodity, and managed futures asset classes, with a focus on the following objectives:
- Primarily Equity with Alternatives
- Balanced Equity-Oriented with Alternatives
- Balanced Fixed Income-Oriented with Alternatives.
Commonwealth said financial advisers looking for new client portfolios that seek to minimize volatility during future down markets can take advantage of these new portfolios that incorporate alternative asset classes into traditional portfolios.
“The integration of alternative asset classes reflects the emerging consensus on best practices in the profession,” said Brad McMillan, Commonwealth’s chief investment officer, in the release.
The portfolios bring a strategy that has traditionally been reserved for institutional investors to the general investing public, the firm said. The minimum investment is $25,000.
“A bigger toolbox widens the range of options advisers can offer to clients, and it enables them to provide more specific solutions to specific clients,” McMillan added.