A number of influential drivers -- including technology-driven automation, the migration from brokerage relationships to long-term fiduciary and fee-only arrangements between advisors and clients, and the growth of the mutual fund wraps
business -- have led to increasing demand for managed account offerings.
The first installment, A New Approach to Wealth Management , offers a brief introduction to overlay portfolio management, and how it differs from traditional private wealth, mutual fund wraps
and separately managed account (SMA) programs.
Meanwhile, yet another layer exists on top of the four quadrants: a range of fee-based products, including separately managed accounts, mutual fund wraps
, ETF wraps and unified managed accounts.
Winn was responsible for the private wealth business line including the Company's 529 Plan, separately managed accounts, registered investment advisors, legacy accounts and mutual fund wraps
Russell's product solutions include multi-manager mutual funds, separate accounts, mutual fund wraps
, wealth management tools, world-class research and institutional client service.
Topics covered by Fund Marketing Alert include: - New products - Direct marketed funds - Mutual fund supermarkets - Distribution strategies - Mutual fund wraps
- Mutual fund advertising - The 401(k) retirement plan market - The Internet - Load funds - Regulatory issues (sales/pricing) - Personnel moves Plus, additional features include: - Fund Filings: a listing of mutual fund filings that have been submitted to the Securities and Exchange Commission.
According to the advisors queried, 38% of their clients are investing more in mutual fund wrap accounts than five years ago, while 13% said their clients have not changed and 11% said fewer of their clients are investing in mutual fund wraps.
The growing interest in both managed accounts and mutual fund wraps signifies a real shift among investors toward paying asset-based fees for advice, and away from transaction commissions.
The SEC has made it clear unless mutual fund wraps provide individualized advisory services to investors, the programs might be considered as investment company offerings and should be registered as such.
That comes on the heels of a 59% increase in 1994 and helped push total assets in mutual fund wrap programs to $18.
Programs range from traditional mutual fund wraps
, separate account wraps and private money manager services to unbundled tools that enable individual asset management by Signator senior financial advisers.
GMA will offer a long list of nearly 100 separate account managers and a mutual fund wrap
via Envestnet Asset Management, portfolios and investments from AssetMark and ICON Advisers, stock baskets from Standard & Poor's, a managed ETF program from Quantitative Advantage, fixed-income portfolios from Gates Advisers and portfolios from two NEXT affiliated firms: Page One Financial and LVZ Advisers.