Managed account FUM rises to $131b
Funds under management in managed accounts have risen to $131.6 billion as of the end of 2021.
According to the Institute of Managed Account Professionals (IMAP) in conjunction with Milliman, funds under management were $131.6 billion at the end of December 2021.
This was up by $21 billion from the 30 June, 2021.
In the six-month period, there had been one new company added which took the total to 49 companies, ranging from large platforms, banks and individual licensees.
Source: IMAP/Milliman
Toby Potter, chair of IMAP, said: “The growth rate in managed accounts is accelerating to the point where it is approaching 40% per year. This growth is up from approximately 30% per annum as recently as June 2021.
“The increased use of managed accounts – MDA and SMA - is a good thing not just for the value added in dollar terms, but because it is achieved through personal advice provided to clients. The value which the systematic approach of managed accounts embodies is even more critical in the worldwide crisis we are currently facing.”
AUTHOR
Laura Dew
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
