The Q4 2022 edition of MMI-Cerulli Advisory Solutions Quarterly, which provides statistics on the managed accounts industry as of December 31, 2022, is available for download.
After three quarters of declines, managed account assets climbed 6.5% during the fourth quarter to close out 2022 at $9.6 trillion in assets. All managed account program types posted positive net flows for the quarter, with separately managed accounts (SMAs) leading the way for the fourth consecutive quarter with $33.9 billion in net flows. In 2022, SMA programs gathered 37% of all managed account industry flows, largely due to an increased focus on direct indexing and personalization of client portfolios.
The State of Fixed-Income Managed Accounts
As income solutions remain top-of-mind for financial advisors and their clients, this edition also looks at the evolution of fixed-income managed accounts. Two out of five (40%) of managed account sponsors cite fixed-income solutions as a top priority for addition to their platforms this year. The majority of fixed-income SMA assets are currently manager-traded, with a much smaller fraction in model-delivered strategies. However, as sponsor firms continue to shift assets toward UMAs, model-delivered, fixed-income capabilities will become increasingly important – and asset managers are working to overcome challenges to fixed-income model delivery by developing completion portfolios.
MMI-Cerulli Advisory Solutions Data Portal Updated
The MMI-Cerulli Advisory Solutions Data portal on Cerulli’s Lodestar platform will be updated with Q4 data during the week of April 10th. As a reminder, MMI members that contribute their advisory solutions data to Cerulli on a quarterly basis have access to this online portal. It allows users to take a deeper dive into the MMI-Cerulli dataset – with the ability to sort, filter and export the data for business planning and presentation purposes.
Please contact:
- mmidata@cerulli.com if we can assist with any data requests.
- events@mminst.org for assistance accessing the Advisory Solutions Quarterly report.
