TIAA-CREF Individual & Institutional Services, LLC (TC Services) provides financial planning and investment management through its Advice and Planning Services division. TC Services offers financial planning services, managed account programs (TIAA Portfolio Advisor and Private Asset Management), and referrals to TIAA Trust. TC Services also offers separate broker-dealer services. Financial planning is provided on a one-time basis, while managed accounts offer ongoing investment management. TC Services is a subsidiary of Teachers Insurance and Annuity Association of America (TIAA).
Fee Structure
TC Services offers several managed account programs with different fee structures:
- TIAA Personal Portfolio (TPP): 0.30% annually of the assets managed. This program is closed to new investors.
- TIAA Portfolio Advisor (PA): Fees range from 1.15% to 0.40% annually based on a tiered schedule.
- Private Asset Management (PAM): Fees range from 0.90% to 0.40% annually for a blended portfolio, or 0.50% to 0.15% annually for a fixed income portfolio, based on a tiered schedule. Transaction costs are additional for PAM.
TC Services may negotiate fee arrangements based on various factors. The fees for TPP and PA are inclusive of most transaction costs, while PAM has separate transaction costs.