The New Managed Account Solutions Handbook: How to Build Your Financial Advisory Practice Using Managed Account Solutions
Industry experts share their insight and tell you why:\ Unified managed accounts represent the future of the managed\ money industry.\ "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 Mutual fund wrap accounts are enjoying a resurgence in popularity.\ "With mutual fund...
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While the amount of assets held in separately managed accounts has more than doubled over the past five years, this growth pales in comparison to what lies ahead. Over the next five years, the first wave of retiring baby boomers—the richest class of people in world history—will fuel the need for financial advisors who can provide consolidated wealth management solutions for complex financial needs, from innovative investments ideas and risk management recommendations to tax-sensitive planning tips. The only platform that can provide all of these services is the managed account.The New Managed Account Solutions Handbook is the definitive reference guide for wealth managers who want to expand their financial advisory practices, attract high-net-worth clients, and establish recurring revenue streams. With a Foreword by Christopher L. Davis, President of the Money Management Institute—the national organization representing the managed account solutions industry—this reliable resource will quickly enhance your understanding of this discipline.Throughout these pages, renowned industry pioneer Steve Gresham and Money Management Institute executive Arlen Oransky discuss the strategies of professionals who have successfully integrated managed account solutions into their businesses and gather insights from undisputed leaders of this industry.Divided into twelve easily accessible chapters—which can be read independently of each other—The New Managed Account Solutions Handbook:Provides an overview of the managed account industry from its origins in pension reform legislation to the new options being offered todayDetails the advantages of managed account solutions and offers advice on how to determine if managed accounts are right for your practiceOutlines ways to build on your managed account success and explores what the future might hold for the industryAnd much moreManaged account solutions represent a higher level of service for the investment side of your client relationships, allowing you to focus more time on the vital areas of client service and attend to the overall wealth needs of your best clients. With this book as your guide, you'll discover why managed account solutions should be an integral part of your financial advisory practice and learn how to transform your practice from the outdated, commission-driven model of yesterday to the fee-based, professional practice of the future.
Foreword Christopher L. Davis viiPreface ixAcknowledgments xiThe Evolution of Managed Accounts 1The Revolution of Unified Managed Accounts 15Mutual Fund Advisory Accounts 36Alternative Investments 42Key Benefits of Managed Accounts and Recurring Revenues 61How to Tell If Managed Account Solutions Are Right for Your Practice 75Transforming Your Practice into a Wealth Management Business 94Developing Your Managed Account Solutions Business 120Positioning Yourself as a Solutions Provider 135Attracting and Retaining Clients 151Building on Your Success 161The Future of Managed Account Solutions 175Epilogue: This Isn't Your Father's Advisory Practice 187Sample Business Plan 190Manager Evaluation Formulas and Ratios 197Sample Investment Policy Statement 200Seminar Checklist and Sample Invitations 209Advisor's Resource Guide 217Index 223
