SMAs: How They’re Used and What Types of Managers are Favored
Introducing the new Envestat Asset Management Series—insights, trends, and predictions about advisor behavior and advisory practices.
In this edition we offer insights into how advisors are using separately managed accounts (SMAs). We examined all SMA portfolios that are widely available to advisors on Envestnet’s platform to answer the following questions:
- Which style types within the SMA program are used most often by advisors?
- What percentage of assets, sales, and flows are in stand-alone SMAs or in sleeves within Unified Managed Accounts (UMAs)?
- How does investment style affect the type of manager (traditional vs. boutique) an advisor selects for a particular slice of the asset allocation?
Using Envestnet Analytics, we ran data for 2016 and 2017 to analyze the trends within Envestnet’s SMA program.
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