Managed Account Select®
Your financial picture becomes more complex as your assets grow. Take a more sophisticated approach to investing through Managed Account Select.
A separately managed account is a portfolio of individual securities managed on your behalf by a professional asset management firm. You own the individual securities, which can provide the ownership, control, and transparency you deserve. We’ll work with you to find the managed account that fits your needs.
Ready to take your portfolio to the next level?
Contact a Schwab Financial Consultant or call us at 866-855-9041.
Unlock an elite investment option
When you invest in a separately managed account through Managed Account Select, you’ll enjoy these advantages:
Find the strategy that's right for you
When you invest through Schwab Managed Account Select, you can choose from a wide range of investment strategies, including:
Working together for you
Managed accounts vs. mutual funds and ETFs
While mutual funds, exchange-traded funds (ETFs), and separately managed accounts each offer professional management and a wide range of investment strategies, there are distinct differences. Consider your unique circumstances and financial needs to determine which option best suits you.
|Does it allow:||Mutual funds||ETFs||Separately managed accounts|
|Ownership of underlying securities||No||No||Yes|
|Daily transparency into portfolio holdings and transactions||No||Usually||Yes|
|Tax-loss harvesting of underlying securities||No||No||Yes3|
|Customization of portfolio contents||No||No||Yes2|
|Portability of underlying holdings||No||No||Yes|
|Potential for unwanted capital gains distributions||Yes||Rarely||No|
|Requirements||Mutual funds||ETFs||Separately managed accounts|
|Account funding||Cash only||Cash||Cash or securities|
|Minimum investment at Schwab||As low as $100||One share||Equities: Typically $100,000
Fixed income: Typically $250,000
Balanced: Typically $250,000
|Fee structure||Flat asset-based fee
(Other fees such as transaction fees, operating expenses, and commissions [loads] may apply.)
|Flat asset-based fee
(Trade commission may apply)
|Tiered, asset-based fee4
(No trading or transaction fees)
Frequently asked questions
- Equity strategies: $100,000
- Fixed income strategies: $250,000
- Balanced strategies: $250,000
- Fees for equity strategies start at 1.35%.
- Fees for fixed income strategies start at 0.65%.
- Fees for balanced and equity index strategies start at 0.95%.
- Exclude a particular security or industry from your account2
- Manage tax implications and support tax efficiency through tax-loss harvesting
- Elect to invest in environmental, social, and governance integration
Questions? We're ready to help.
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Contact us today to discuss our range of managed accounts and whether they are right for you.
1. Charles Schwab Investment Advisory, Inc. ("CSIA") is an affiliate of Charles Schwab & Co., Inc. ("Schwab"). The Select program is sponsored by Schwab. Schwab does not provide advice or recommendations regarding managed accounts of money managers ("MMs") to investment advisors or their clients. CSIA is an affiliate of Schwab that evaluates the MMs in Schwab's Select program.
2. Amount and type of investment restrictions must be reasonable and are subject to the manager's acceptance.
3. Services may vary, depending on which investment firm(s) you choose.
4. The asset-based fee does not cover (i) certain costs or charges imposed by third parties, including odd-lot differentials, American Depositary Receipt fees, exchange fees, and transfer taxes mandated by law; (ii) charges for special services elected by you, including periodic distribution fees, electronic funds and wire transfer fees, certificate delivery fees, and reorganization fees; (iii) dealer markups and markdowns on fixed income securities; and (iv) execution of transactions in securities by other broker-dealers.
5. Schwab calculates household fees in Managed Account Select® ("Select") by totaling the value of client assets in their managed accounts within the following strategy categories: equity, ETF, fixed income, fixed income ladder. Assets in equity strategies are charged according to the applicable fee schedule category (i.e., regular equity strategies, index-based strategies, or ThomasPartners, Inc. strategies). Diversified Portfolios, Master Limited Partnership ("MLP") strategies, and options-based and balanced strategies are charged according to the regular equity fee schedule. Preferred stock strategies are charged according to the fixed income (non-ladder) fee schedule. Schwab charges the combined assets in householded managed accounts with equity strategies in the following order according to the applicable fee schedule category: (i) accounts with equity strategies (other than index-based strategies, if any); (ii) accounts with index-based strategies (if any); and (iii) accounts with ThomasPartners, Inc. strategies. ERISA accounts can be householded only with other ERISA accounts of identical registration.
The Managed Account Select program is sponsored by Schwab. Please read the Schwab Managed Account Services™ Disclosure Brochure for important information and disclosures. In addition, please read the participating manager's disclosure brochure, including any supplements, for important information and disclosures. Investments in managed accounts should be considered in view of a larger, more diversified investment portfolio. Services may vary depending on which money manager you choose and are subject to a money manager's acceptance of the account.
Diversification strategies do not ensure a profit and do not protect against losses in declining markets.
This information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice.
Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, Financial Planner, or Investment Manager.