U.S. Managed Accounts
Gain a complete understanding of the U.S. fee-based advisory industry, which includes sponsors (broker/dealer firms) that offer managed account programs and the asset managers that distribute them through their platforms.
Practice Detail
The Managed Accounts practice—which analyzes 98% of managed accounts industry assets—is Cerulli’s longest-running practice with more than 20 years of historical data. It focuses on the U.S. fee-based advisory industry, with an emphasis on sponsors (broker/dealer firms) that offer managed account programs and the asset managers that distribute them through their platforms. Coverage includes the six types of managed account programs: separate account, mutual fund advisory, rep-as-portfolio-manager, rep-as-advisor, exchange-traded fund (ETF) advisory, and unified managed account (UMA) programs.
Publications
- Annual report
- The Cerulli Edge
Our Experts
Meet the Team
Powering insights that inform strategic business decisions, this team is devoted to understanding and analyzing changes in asset flows, uncovering technology shifts, and advising clients on product and business opportunities.
Michael Manning
Analyst
Bio →
Michael Manning
Analyst
Michael is an analyst in the Wealth Management practice at Cerulli, specifically working in Managed Accounts. He is a contributor to the U.S. Managed Accounts annual report and The Cerulli Edge series, providing quantitative and qualitative analyses. He also supports various consulting projects within the Wealth Management practice.
Prior to joining Cerulli Associates, Michael started his career as a financial analyst at Granite Telecommunications where he created quote proposals and developed special pricing analyses in response to customer needs.
Full biography here.
Scott Smith
Director
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Scott Smith
Director
With more than 20 years of financial services industry experience, Scott leads Cerulli’s research efforts focused on investor behavior and advisory relationships. In his time at Cerulli, he has authored more than two dozen in-depth reports on topics ranging from wholesale distribution to digital advice platforms. His research helps Cerulli’s clients understand how to optimize their platforms given the evolving demand for financial advice.
Scott started his career wearing a headset at Putnam Investments’ service center in 1996, before moving to more strategic roles at MFS Investment Management starting in 2000, and then to Cerulli in 2007. In addition, he currently serves as member of the CFP Board’s Digital Advice Working Group, and as a judge for the wealthmanagement.com Industry Awards.
Full biography here.
Jen Feugill
Director of Editorial and Data Analytics and Visualization
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Jen Feugill
Director of Editorial and Data Analytics and Visualization
Jen is primarily responsible for the integrity of data and data presentation across all U.S. publications and presentations. She oversees the development and execution of Cerulli’s interactive data platform, including Interactive Report Dashboards (IRDs). She works closely with Cerulli’s data team, collaborating on dashboard visualization, data automation projects, and data strategy. Jen began her tenure at Cerulli Associates as an analyst focusing on managed accounts.
Prior to joining Cerulli, Jen worked as a Business Analyst at BTM Capital Corp. Her responsibilities included assisting in the operational aspects of system administration and providing ongoing quality assurance analysis on data related to multiple groups in the operations department.
Full biography here.
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