Janney Montgomery Scott LLC Announces New Unified Managed Account Program with Placemark Investments as Overlay Manager

- New Wealth Management Service Offering Features Single, Diversified Portfolios Composed of Separate Accounts, Mutual Funds and ETFs with Lower Minimums -

DALLAS, April, 19 - Placemark Investments, the leading overlay manager to financial services companies offering unified managed accounts (UMAs), today announced that Janney Montgomery Scott LLC (“Janney”) has launched a new Unified Managed Account program in its Wealth Management Services division. Janney, one of the country's leading regional full-service investment firms, said the UMA program will allow its advisors to offer clients a single portfolio that combines multiple investment products, including separately-managed accounts, exchange traded funds and mutual funds. Placemark will serve as the program's overlay manager, responsible for trading all separate account portfolios, and implementing all program features such as tax management and rebalancing.

UMAs are becoming a popular wealth management solution with firms looking to grow their fee-based investment programs. Tower Group forecasts managed account assets to grow to over $1 trillion by 2007, and sponsors are increasingly using UMA programs to deliver improved services and client support in their managed account programs.

Janney's UMA program, with minimums as low as $150,000, offers clients a choice of eight different packaged portfolios with a variety of investment styles, or the ability to create a customized portfolio with a Janney financial consultant. The UMA features an open architecture to facilitate customization and permit the financial consultant to develop any portfolio to meet their clients' needs. Additionally, Janney's UMA program is supported by CheckFree APL™ from CheckFree Investment Services, a division of CheckFree Corporation (NASDAQ: CKFR). Janney is also utilizing the CheckFree APL MSP portfolio accounting module to provide clients with performance reports for both the overall account and each underlying separate account portfolio. CheckFree APL is the leading separately managed account platform, providing remote processing services – trading, portfolio management, accounting, reporting services and data – to broker/dealers, money managers and investment consultants.

“We wanted to offer our clients a fee-based program with better diversification and greater product flexibility than available in our existing programs,” said JR Castle, Director of Distribution, Wealth Management Services at Janney. “Working with Placemark, we were able to leverage our firm's expertise in asset allocation and product selection in developing the new program. We believe the new UMA program will be a cornerstone in growing Janney's fee-based program.”

"We're pleased to offer our active overlay management services to Janney advisors and their clients,” said Lee Chertavian, CEO of Placemark. “We look forward to working with Janney in extending the program in the future, and providing increased services and investment product options."