TALLAHASSEE, Fla. (1/10/12)--Accolade Investment Advisory, a credit union service organization (CUSO) owned by Southeast Corporate FCU, continued to experience appreciable growth during 2011.
The Tallahassee, Fla.-based company ended 2011 with nearly $1.2 billion in assets under management--an increase from the $900 million under management at the end of 2010.
The increase comes from credit unions' growing awareness of the firm and the assistance it offers, said the CUSO's President Peter Gibson. "Credit unions increasingly are recognizing that partnering with an unbiased advisor adds tremendous value in guiding their portfolios through the constantly changing world of complex, fixed-income instruments," he added.
Despite the challenges of ongoing economic turmoil and the low interest-rate environment, Accolade transacted nearly $800 million in trades in 2011, an increase of nearly 30% from 2010.
"Accolade continues to provide a more price-efficient alternative for individual securities transactions by accessing the firms that own and originate the securities, as opposed to using regional broker dealers," Gibson said. "By actively seeking this best execution, we conservatively estimate that Accolade has saved client credit unions in excess of $1million during the year."
The company is a Securities and Exchange Commission-registered investment advisor.