Date Published: May 3, 2017
Summary Power Point Deck: 80 Slides
Reference Power Point Deck: 1,337 Slides
The purpose of this research is to provide readers with a comprehensive understanding of managed account programs, including separately managed account (SMA) programs, mutual fund wrap account programs, exchange traded fund (ETF) wrap account programs, & unified managed account (UMA) programs, as well as rep as portfolio manager and rep as advisor programs. No individual trend across the financial advisor channels is as profound as the shift away from commission brokerage towards these six types of managed account programs. This comprehensive research includes a detailed history, statistics on the leading programs, details of each program type, highlights of each distribution channel, and predictions for the future. This research is part of Tiburon's broader coverage of financial products & services. Another Tiburon research topic more narrowly addresses financial advisor turnkey asset management programs (FA TAMPs).
This research outlines key historical phases, including: