Making Cents: Money Managers in the Money

The total financial assets of America’s households were about $14 trillion at the end of 1995, and about 27% of these assets were professionally managed, according to a report by the investment bank Putnam, Lovell & Thornton Inc. “We forecast this growing to 35% by the end of the century, providing significant growth in demand for money management services,” said Robert H. Smith of Putnam Lovell.