Wall Street wirehouses  – or bulge bracket firms -- continued to top the list of sponsors of separately managed accounts for the second quarter of this year, according to a research report just issued by the Money Management Institute and Dover Financial Research.

The report, whose findings were called preliminary, listed the top five sponsors of separately managed accounts as Morgan Stanley Smith Barney; BofA Merrill Lynch, Wells Fargo, UBS Financial and Charles Schwab respectively based on the value of the separately managed accounts they distributed.

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