Janney Montgomery Scott retained Placemark Investments as overlay manager for Janney's new Unified Managed Account program, said David Jacobson, spokesman for Placemark. The program, which is part of Janney's wealth management services division, will offer clients a single portfolio that combines multiple investment products, including separately managed accounts, ETFs and mutual funds. Placemark will trade all separate account securities and implement program features such as tax management and rebalancing.
Randy Cohen, director of investments-wealth management at Janney, declined to comment on the matter, citing the firm's policies.
