What is a Turnkey Asset Management Program in the context of a Registered Investment Advisor (“RIA”)?

Definition: While there are differing types of offerings in the marketplace, this generally refers to a way to access and utilize various 3rd party models and/or SMA managers to manage the assets in a client’s account.

When used in an RIA context: “The RIA outsources the management of the client assets via the Turnkey Asset Management Program solution provider they chose to work with.”

See also: Episode 57, SMA Managers, TAMP