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MFS Signs up First Separate Account Partner

MFS of Boston has signed up its first partner, a regional broker/dealer with 300 registered representatives, to help sell MFS' new separately-managed account services.

Nearly 300 financial advisors from Scott & Stringfellow of Richmond, Va. will work with MFS Private Portfolio Services to develop personalized accounts for Scott & Stringfellow's clients. MFS will offer separate-account management in the large-cap growth, large-cap value and large-cap core investment disciplines.

Scott & Stringfellow has already offered separately-managed accounts for the past five years and has $400 million under management in such accounts, said Robin Wilcox, director of consulting services at the firm. While Scott & Stringfellow has partnerships with a number of high-profile institutional money managers for its separate account business, MFS is the first major mutual fund advisor to assist it on this business, Wilcox said.