Most large investment managers have high minimums for client accounts.
A cut-off point of five to ten million dollars is not unusual for
institutional money managers. Fortunately, many of these managers have private
client divisions with lower minimums, usually ranging from $500,000 to
$1,000,000. Below this level, they use "pooled funds" which are unit
trusts, like mutual funds, but are only available to clients with a minimum of
$150,000 in each pooled fund. There are many smaller investment counselling
firms with lower minimums for segregated funds. Banks, trust companies and
investment dealers also have investment management divisions which manage money
for their firms' clients.
Article by John Carswell |