Newspaper article The Daily Yomiuri (Toyko, Japan)

Securities Firms Marketing Asset Management in Hand

Newspaper article The Daily Yomiuri (Toyko, Japan)

Securities Firms Marketing Asset Management in Hand

Article excerpt

Securities companies are turning their energies toward services to attract beginner investors. Such services include investment portfolios sometimes known as "wrap accounts," which allow customers to entrust all asset management functions to their investment professionals.

Such services were originally offered only for the very wealthy, but securities houses have expanded offerings to encompass a broader population, in response to the increasing number of people interested in asset management amid a perceived economic recovery.

The amount of money invested in wrap accounts exceeded 1 trillion yen for the first time this year, ending March at a total value of 1.38 trillion yen, 80 percent higher than a year earlier.

In a late May seminar on wrap accounts at the Kawasaki branch of Nomura Securities Co., sales personnel from the firm sat by the side of each of the 27 participants giving personal, individual advice in line with a lecturer's explanatory presentation.

One of the participants seemed pleased, saying, "An investment adviser consulted with me and made a plan suitable for me."

The company started these one-on-one sessions in February this year. Koji Tateyama, an investment advisory service manager at the company, said: "Use of the service is growing mainly among elderly clients who do not know how to invest a lump sum of money such as their retirement benefits."

Wrap accounts aim for stable long-term profits by diversifying investments across multiple assets. Although users pay a certain commission to the securities companies, the services allow them to entrust investment experts with adapting investment targets in line with movements in the markets. …

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