LOS ANGELES – Cetera Financial Group has announced its Next Generation Managed Accounts (xMASM) Program, an evolution of a traditional separately managed account (SMA). The new platform offers more flexibility and control by allowing for multiple managers in a single account, a feature previously available only to large institutions and wealthy investors.
This is the second all-new advisory program Cetera has rolled out in less than three months, as part of its commitment to delivering sophisticated, effective solutions for advisors.
“Our new xMA program is a powerful combination of the best features of a managed account with more flexibility and more efficient account management,” said Kian Rafia, head of advisory and brokerage investment products. “By using the latest technology we create efficiencies in model delivery that allows for very competitive pricing.”
Cetera’s xMA gives investment adviser representatives the ability to use a combination of more than 100 investment styles, from 70 institutional portfolio managers who would normally require multi-million dollar account minimums, all in one custodial account. It also includes alternative strategies, which traditionally haven’t been available in SMAs.
The program brings together the best of traditional SMAs including direct ownership of securities, more control in managing tax consequences, and guidance on asset allocation models. But unlike other programs, the accounts are flexible and advisors can immediately add an additional manager or move assets between managers to help accommodate changes in the market or a client’s changing needs. This removes the delays of traditional platform rebalancing and allows for true diversification without the burden of managing multiple accounts and it greatly lessens the paperwork required.
“This new program, combined with our recently launched, turnkey MF/ETF platform and innovative technology, has set a new bar for wealth management programs in the independent space,” said Barnaby Grist, executive vice president, wealth management. “Through continued development of industry-leading tools and expertise, we strive to be the best firm to help advisors grow their fee business.”
Both xMA and Cetera’s recently launched mutual fund/Exchange Traded Fund advisory program are powered by the recent expansion of Cetera’s advisory technology platform SmartWorks AdviserSM, which runs on the FolioDynamix wealth management technology platform and is available through Cetera’s SmartWorks™ workstation. This unique combination gives advisors unprecedented control in managing the many aspects of their fee-based business while increasing the efficiency and flexibility of their practice.
About Cetera Financial Group Cetera Financial Group is one of the nation’s largest privately-held, independent broker-dealer and investment adviser families. It provides leading wealth management and advisory platforms, comprehensive broker-dealer and RIA services, and innovative technology for approximately 5,000 independent financial professionals and more than 700 financial institutions nationwide. Through its three distinct firms, Financial Network Investment Corporation, Multi-Financial Securities Corporation and PrimeVest Financial Services Inc., Cetera is able to offer the benefits of a large, established and well-capitalized broker-dealer, while serving advisors in a way that is customizable to their unique needs and aspirations. Based in the Los Angeles area, Cetera is committed to helping advisors grow their business and strengthen their relationships with clients. For more information, visit www.cetera.com.
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Cetera Launches xMA, the Next Generation Managed Account (pdf) 164.24 kB