National Financial, a subsidiary of Fidelity Investments, today said that it added two new components to its Managed Account Solutions program that are designed to help broker/dealers grab a bigger piece of the $1.8 trillion managed-account industry.
The first piece is an enhancement to its advisor-directed unified managed account (UMA), one of four investment-advisory programs in its Managed Account Solutions. Among other things, the Solutions program recommends an asset allocation based on an investors' risk profile and recommends money managers, mutual funds and exchange-traded funds for each asset class. The new UMA feature lets brokers and advisors take this further by comparing various allocation options, analyzing historical rates of return and adjusting the account's money managers, mutual funds and ETFs to meet clients' investment objectives.
The second piece expands its wrap advisory program to include three third-party mutual fund and ETF wrap strategists-Morningstar Investment Services, Standard & Poor's Investment Advisory Services and Symmetry Partners.
National Financial's Managed Account Solutions program began last year and now comprises 70 broker/dealers worth $6 billion in managed account assets.