Managed Account

Human beings aren't irrelevant...yet.

A managed account has a human, albeit with the aid of many computers and computer systems at their beck and call, managing that account.

The market dropped a lot today, so should we buy equities? Swap some bonds for growth stocks that were crushed? Or is the world feeling bubblicious, and we should sit pat with cash until things really fall apart, and then go low price-earnings-growth stock shopping?

A managed account has someone making all these calls and decisions in various forms. And clients pay for it. See: Wrap Account...and think: 1% a year against all assets in the managed account, but with no trading commissions or other surprise fees. Works for some, anyway.