Unified Advisory Select Portfolios Program Sample Clauses

Unified Advisory Select Portfolios Program. If Client participates in the UAS Portfolios Program, Client authorizes Baird and the Overlay Manager to manage Client’s Account on a non- discretionary basis according to the model asset allocation strategy selected by Client (each such model, a “UAS Portfolio”). UAS Portfolios involve the use of various different investment strategies because they are customized for each client. A UAS Portfolio provides Client with a customized level of investment across different asset classes, such as equity securities, fixed income securities, Non-Traditional Assets, Alternative Investment Products and cash. To implement the asset allocation strategy, Client selects the investments for the Account from among those mutual funds, ETPs, SMA Strategies and PWM-Managed Portfolios that Baird has determined are eligible for use in the Program. The UAS Portfolios Program also makes available a discretionary management option, whereby Client grants discretionary investment authority over Client’s UAS Program Account to Baird and a Financial Advisor who has been approved by Baird to manage client accounts in the UAS Portfolios Program (a “UAS Manager”). If Client selects that option, Client grants full discretionary authority and management of Client’s Account to Baird and Client’s UAS Manager. Client’s UAS Manager will manage Client’s Account on a discretionary basis according to the UAS Portfolio strategy selected by Client by investing Account assets in various mutual funds, ETPs, SMA Strategies and PWM-Managed Portfolios that Baird has determined are eligible for use in the Program. (1) UMA Recommended Funds, which may include Affiliated Funds, that Baird determines are eligible for the UMA Programs through an initial and ongoing evaluation process further described in the Baird Brochure; and (2) certain other mutual funds and ETPs (“UAS Available Funds”) that Baird makes available under the UAS Program through a significantly less rigorous evaluation process compared to the UMA Recommended Funds further described in the Baird Brochure. Similarly, the UAS Portfolios Program makes available two categories of SMA Strategies: (1) UMA Recommended SMA Strategies, which may include Affiliated SMA Strategies, that Baird determines are eligible for the UMA Programs through an initial and ongoing evaluation process further described in the Baird Brochure; and (2) certain SMA Strategies made available by certain managers (“UAS Available Managers”) through the Overlay Manager that Bai...