Turnkey Asset Management Program (TAMP)

"Turnkey," as in: you turn the key, walk in through the front door, and everything's there. The electricity is on. The WiFi actually works. There's food in the fridge. You're home. Nothing left to do.

So how does that apply to an asset management situation?

Well, in this case, we're talking about a technology platform...a system that companies can adopt. It helps firms that provide some sort of investment advice or portfolio oversight to control their clients accounts as needed. The system has all the necessary elements already in place; it has the admin features, the reporting ability, and the proper oversight capabilities.

The TAMP might be purchased by an accountant that has power of attorney over a client in a coma, or a law firm that's been named the trustee for a trust for a rich client's illegitimate kid. Or any number of brokers, banks, or insurance companies.