U.S. Managed Accounts 2021
The Evolution of Personalized Investing
Strengthen and Scale Advisory Solutions
- Uncover renewed interest in direct indexing
- Understand the evolution of the separate account from component to portfolio
- Dive into the continuing growth of asset allocation models
Buy Now
Jeremy Fodaski
Account Manager
- Boston HQ +1 617.437.0084
- Singapore +65 6994 1022
- London +44 20 7645 9040
Summary
This annual report dissects the managed account marketplace, providing key business metrics gleaned from Cerulli’s managed account database. It contains analysis and data critical to managed account asset managers and program sponsors, such as market sizing and growth projections, distribution dynamics, business practices, industry economics, proliferation of fee-based relationships among advisors and firms, developments in product design and delivery, channel-specific attributes, investor pricing, and program features.
Included with Purchase
Methodology
Each report is lead authored by a senior Cerulli analyst with significant industry experience. The report incorporates qualitative and quantitative inputs, based on Cerulli’s proprietary research process. For more on our research process, click here.
Executive Summary
Get the most important report findings distilled in an easy-to-understand and highly visual format before you begin your journey through the report or use it as a tool for senior leadership.
Interactive Report Dashboard
Access consolidated data from multiple report exhibits in a single comparative view. Flexibly build your view of data with customizable filters and share the results in a format that meets your requirements.
Analyst Support
Got a question? Our analysts are available to help you interpret and analyze key findings as well as provide their perspective on industry trends.
Data Behind the Report
Data is the foundation of our reports. Each study contains nearly 100 exhibits, available to buyers in Excel format. Extract and explore Cerulli’s data and analysis your way.
Digital Access
Access your reports digitally anytime, anywhere, on any device through our client portal.
A Note from the Authors
Managed Account Sponsors Shift Top Priorities
Matt Belnap
Associate Director
Bio →
Matt Belnap
Associate Director
As an associate director, Matt plays a critical role in developing research across the retail financial services spectrum, including wealth management, managed accounts, and product development. Matt contributes to nine Cerulli reports across three research practices and manages The Cerulli Edge—U.S. Advisor quarterly publication.
Matt began his career in financial services at Eaton Vance investment management, serving in a variety of roles, ranging from shareholder services, to institutional marketing, and in competitive analysis seeking strategic distribution opportunities.
Full biography here.
Platform consolidation—a long-running strategic priority for managed account sponsors—has taken a back seat to helping advisors build better portfolios, according to this year’s research. While platform consolidation remains important, sponsors place greater importance on several other objectives outlined below.
Increasing the Use of Home-Office Discretionary Managed Account Product
Managed account distributors are encouraging advisors to adopt home-office portfolios to produce more consistent outcomes for investors and increase advisor efficiency, with 45% rating it a top priority. Forward-looking firms understand that financial planning is the most important service they can provide investors and that other aspects of investing, particularly portfolio construction, should be outsourced.
Providing Better Portfolio Construction Support for Advisors
While they continue to encourage outsourcing, sponsors have made peace with the fact that some advisors will never want to surrender portfolio construction. For these hard-core, discretionary advisors, firms are providing tools, analysis, and supporting personnel to help them become better portfolio managers. Over one-third (39%) of firms rate this a top priority.
Responding to Regulatory Scrutiny
Responding to regulations is also a concern, with 39% rating it one of their firm’s top initiatives. The changing of administrations has many firms concerned that new fiduciary standards will be introduced that will require significant changes to their technology, policies, and procedures.
In addition to covering key priorities for managed account sponsors, The Cerulli Report—U.S. Managed Accounts 2021: The Evolution of Personalized Investing, provides in-depth market sizing, assesses challenges and opportunities for asset managers, and provides a comprehensive overview of the industry movement toward direct indexing. Connect with our team for more details.
Contact Us
Want More Information?
Learn more about this report and related Cerulli research.
Contact Us
You May Also be Interested in:
- Annual report
- The Cerulli Edge
Strategic Consulting & Custom Research
Cerulli Consulting
Understand where to allocate resources to achieve your objectives. We can help you determine which initiatives are likely to be successful and those that may not achieve the desired effect. In an increasingly competitive market, our objectivity and experience can help you to advance your firm’s unique strengths.