Palo Alto, Calif.-based Kelmoore Investment Company announced a partnership with AMS Group, a distributor based in West Palm Beach, Fla., in an effort to double distribution efforts of Kelmoore’s separately managed account business. Until now, Kelmoore’s SMA sales efforts have been internal. This is not Kelmoore’s first partnership with AMS. “Working relationships are built on trust. Our clients trust us, and we need a team that we know and trust representing us in the field,” said Kelmoore CEO Ralph Kelmon. Kelmoore’s Traditional Strategy SMA is a blue-chip equity portfolio against which covered options are sold. New to the company’s offering are the Kelmoore Overwrite Account and the Kelmore PrincipalPlus Account. The Overwrite account usually starts with customers’ highly concentrated portfolios and diversifies them. The PrincipalPlus Account includes both equity and principal-protection bonds while offering access to cash. AMS’s role will be to explain to advisers how the programs work, and help then explain the function to clients. AMS Founder and CEO Richard A. Schilffarth said his company looks forward to the partnership, noting especially increased demand for covered options strategies that generate cash.
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