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The New Managed Account Solutions Handbook
How to Build Your Financial Advisory Practice Using Managed Account Solutions
Stephen D. Gresham (Author), Arlen S. Oransky (Author)
9781119161608, Wiley
Paperback / softback, published 31 July 2015
240 pages
25.4 x 17.8 x 1.3 cm, 0.428 kg
"A financial advisor catering to high net-worth individuals is advised to have a copy of The New Managed Account Solutions Handbook, on his desk!"??(Fund Structures, November 2016)
Industry experts share their insight and tell you why: Unified managed accounts represent the future of the managed money industry. Mutual fund wrap accounts are enjoying a resurgence in popularity. Exchange-traded funds have exploded in popularity with clients and advisors. Client demand is fueling the growth of alternative investments. They'll also teach you how to:
"No other platform offers so many options and can be customized to meet the needs of so many different types of investors," says one of the nation's most prominent money managers. "We are able to address a wide variety of investment needs with a single product." (Chapter 2)
"With mutual fund advisory accounts, advisors can develop a consolidated strategy for their clients utilizing mutual funds," explains one top executive at a leading investment bank. "Investors know that proper asset allocation produces better results." (Chapter 3)
"ETFs have changed the landscape by offering financial advisors a new way to diversify their clients' portfolios," says the national sales manager of one of the world's largest ETF providers. "Advisors can fully diversify across all asset classes." (Chapter 4)
"Larger clients are asking for these types of investments," says one director of investment consulting solutions at one of America's largest banks. "Diversification to minimize risk is the key incentive for adding alternative investments to a portfolio." (Chapter 4)
Foreword Christopher L. Davis vii Preface ix Acknowledgments xi Chapter 1 The Evolution of Managed Accounts 1 Chapter 2 The Revolution of Unified Managed Accounts 15 Chapter 3 Mutual Fund Advisory Accounts 36 Chapter 4 Alternative Investments 42 Chapter 5 Key Benefits of Managed Accounts and Recurring Revenues 61 Chapter 6 How to Tell If Managed Account Solutions Are Right for Your Practice 75 Chapter 7 Transforming Your Practice into a Wealth Management Business 94 Chapter 8 Developing Your Managed Account Solutions Business 120 Chapter 9 Positioning Yourself as a Solutions Provider 135 Chapter 10 Attracting and Retaining Clients 151 Chapter 11 Building on Your Success 161 Chapter 12 The Future of Managed Account Solutions 175 Epilogue: This Isn’t Your Father’s Advisory Practice 187 Appendix A: Sample Business Plan 190 Appendix B: Manager Evaluation Formulas and Ratios 197 Appendix C: Sample Investment Policy Statement 200 Appendix D: Seminar Checklist and Sample Invitations 209 Advisor’s Resource Guide 217 Index 223
The managed account industry, which began amid pension reform, has mushroomed in response to clients’ demands for a consistent process to manage their investments.
Unified managed accounts have evolved as investors sought greater coordination among their investments and more diversified portfolios.
Financial advisors can leverage the potential of multiple mutual funds in a single client account by using a mutual fund advisory account.
Alternative investments offer greater diversification and risk management than ever before, and many clients are asking that alternatives be included in their portfolios.
Managed account solutions allow for a more efficient use of the advisor’s time, access to a more affluent clientele, a consistent revenue stream leveraged by the market’s growth, and a more valuable business entity; plus, clients prefer fees over commissions.
Are managed account solutions right for you? Here’s how to evaluate your potential for success.
Step-by-step instructions for explaining managed account solutions to clients and prospects, gathering information and developing an investment policy statement, and structuring an effective client meeting.
Referrals from current clients can bring prospects to your door, but you must know how to ask for them and have materials on hand to promote your practice.
By cultivating mutually beneficial relationships with service providers, allied professionals, and the media, you can develop a steady stream of referrals to help grow your business.
Seminars remain an effective marketing tactic in the sale of managed accounts. Here are proven techniques for staging a successful meeting and building your reputation.
Throughout the course of the client relationship, you will have multiple opportunities for capturing additional assets and building your managed account business.
Industry leaders present their visions of what the future holds for managed account solutions and the advisors who provide them.
Subject Areas: Finance & accounting [KF]
