Managed Account Programs:
The Re-Emergence of Centralized Programs

Recently Released!!!
Date Published: July 13, 2017
Summary Power Point Deck: 68 Slides
Reference Power Point Deck: 1,310 Slides

The purpose of this research is to provide readers with a comprehensive understanding of the managed account programs market, 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 relatively history, statistics on the leading programs, details of each program type, highlights of each distribution channel, & predictions for the future.

This research outlines historical phases, including:

    • Slow Growth Phase
    • Explosive Growth Phase
    • Financial Advisor Programs Dominance Phase
    • Centralized Programs Re-Emergence Phase

This research addresses program types, including:

  • Separately Managed Account (SMA) Programs
  • Mutual Fund Wrap Account Programs
  • Exchange Traded Fund (ETF) Wrap Account Programs
  • Unified Managed Account (UMA) Programs
  • Rep as Portfolio Manager Programs
  • Rep as Advisor Programs

This research defines markets & distribution channels, including:

  • Wirehouses
  • Other Financial Advisor Channels
  • Direct Distribution
  • Institutional Markets

And this research makes several predictions, including:

  • Substantial Expected Growth for Managed Account Programs
  • Emergence of Rep as Portfolio Manager Benchmarking
  • Re-Emergence of Centralized Programs
  • Potentially New Pricing Models
  • International Opportunities
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