GMS Group Expands Managed Account Services

The GMS has launched a new managed account platform with a wide array of new offerings. FundQuest, a managed accounts provider, will support GMS group's financial advisors with a suite of technology-based productivity tools, investment research and monitoring services.

GMS is a specialist in tax exempt municipal bonds with over $13 billion of fixed income bond transactions in 2007. A key element of the firm's high net worth investor program is to offer a full-range of investment options by launching a new managed accounts platform.

The GMS Group's new platform will offer their high net worth clients these managed account solutions: mutual fund models, unified managed accounts with FundQuest overlay management, separately managed equity account models, active/passive portfolios including exchange-traded funds, and universal life products. "Both our advisors and high net worth clients will benefit from the depth and breadth of our new platform's investment products and the quality of FundQuest's research and support services. We can expand our relationships with our existing fixed income clients and compete with any firm for managed equity accounts, said Tim Donohue, executive vice president/COO of The GMS Group, in a press release. "GMS will supplement their fixed income expertise with a new array of carefully researched and monitored open architecture investment products. Their advisors will gain efficiency with FundQuest's proven web-based portfolio diagnostics tools," said Maryanne Morrow, vice president of national accounts at FundQuest, in the release.