RBC Dain Rauscher hopes a new unified managed account platform will help it target mass-affluent customers with services once reserved for the ultra-wealthy. The firm is looking to serve people with $250,000 to $500,000 to invest, thereby competing with larger brokerage companies, said Erik Preus, the firm's director of investment consulting services.

The nation's eighth-largest full-service securities company, with $108 billion of assets under management, including $16 billion of fee-based assets, introduced its RBC Total Portfolio earlier this month. The platform features an open architecture array of products and services that let financial consultants offer a diversified portfolio of products, including separately managed accounts, mutual funds and exchange-traded funds, in a single account.

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