The company has also announced that its has moved its SMA division from the consultant services group to the managed account group. PaineWebber is the 12 th SMA asset management company Neuberger Berman has added to its $5.7 billion SMA platform.
Heightened trepidation among investors has increased demand for separate accounts, said Andrew Provencher, senior vice president and director of broker/dealer distribution for Neuberger Berman.
"Our managers are among the most experienced in the industry. Our clients have found this especially reassuring during the market fluctuations weve been experiencing for the past several years," he said.