, an Internet-based investment adviser, last week began offering customized individually- managed accounts online. is promoting itself as the, "customized alternative to mutual funds." These accounts require a minimum investment of $100,000, and carry an annual fee that will range from one percent to 1.5 percent, depending on the amount of assets under management. The fees are no less than those charged for individually-managed accounts not sold online, according to the American Institute for Money Management in Washington, D.C.

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