That's where Portfolio Solutions comes in.
Sure, said Richard A. Ferri, the chief executive of Portfolio Solutions, which is based in Troy, Mich.
A TRADITIONALIST STANDS FIRM Rick Ferri, founder of Portfolio Solutions, remains a die-hard buy-and-hold investor, scoffing at many notions that some other advisers now subscribe to.
Patrick O'Connor, senior vice president for wealth, retirement, portfolio solutions at Raymond James, said some of the best technological innovations reminded him of a recent visit to his new dentist.
Rick Ferri, of Portfolio Solutions, for instance, charges 0.25 percent of assets to build and manage a portfolio of index-tracking investments, though there is a minimum charge of $2,000 a year per household.
He said the company had considered the bids it received for the UK business but wanted to look at "alternative and more sustainable portfolio solutions for the European business".
Greg Whitworth, president of loan portfolio solutions at Fidelity, defended the arrangement, saying it was not unusual for a company to have an intermediary manage outside law firms on its behalf.
"We anticipate the next 24 to 36 months to be busier than the last 12 months," said Graham Martin, the London-based global leader of KPMG's portfolio solutions group, which advises banks on these transactions.
An unbalanced index is proposed to model the elitism of product portfolio solutions.
