MetLife B/D Reaches Out to Smaller Accounts
The MetLife Broker-Dealer Group unveiled an automated advisory product to capture emerging investors, or those investors with as little as $10,000 to invest.
The solution, MetLife Fund Management Services, is available to all MetLife’s retail registered investment advisers (RIAs), which includes MetLife Securities, New England Securities, Tower Square Securities, and Walnut Street Securities.
MetLife said the service captures mutual fund clients whose assets might otherwise be held directly at multiple mutual fund companies.
The idea is that the tool simplifies account maintenance and support to free up the investment advisory representatives (IARs) to build an advisory, rather than a transactional, relationship with clients, according to MetLife. The online tool offers consolidated statements and tax reporting.
MetLife Fund Management Services is supported by an electronic process that provides validation after an IAR completes the electronic form. The system then immediately notifies the IAR of missing information from the application and provides suitability guidance, according to MetLife.
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