SMAs (Separately Managed Accounts)
Direct security ownership with professional management—useful for tax control and customization.
You own the securities directly. The manager runs the strategy.
A Separately Managed Account (SMA) holds individual stocks (or bonds) in your name, managed by a professional manager according to a defined strategy. Unlike a mutual fund where you own a slice of a pool, in an SMA you own each underlying security.
Why that matters
- Tax-loss harvesting at the security level. A manager can sell a specific position at a loss to offset gains elsewhere—something a mutual fund can’t do for you.
- Customization. Exclude specific companies, industries, or holdings you already own elsewhere.
- Transparency. You see exactly what’s in the account.
- Cost basis control. Useful for charitable giving and estate planning.
Who SMAs typically fit
Investors with $250k+ to allocate to a strategy, often in taxable accounts where the tax-loss harvesting edge compounds meaningfully over time. They’re not always the right answer—but in the right situation, they materially outperform comparable funds after tax.
Let's see if we're a good fit.
A 30-minute introductory call—no pressure, no obligation. We'll talk through your goals and whether working together makes sense.