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  5. Unified Managed Accounts Outsourced Programs: Turnkey Asset Management Programs: Springboards to UMA Deployment

Unified Managed Accounts Outsourced Programs: Turnkey Asset Management Programs: Springboards to UMA Deployment

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2 March 2009

Abstract

New York, NY, USA March 3, 2009

Unified Managed Accounts Outsourced Programs

Unified managed accounts (UMAs) are rapidly becoming the portfolio management model of choice for wealthier households and their financial advisors, and Turnkey Asset Management Programs (TAMPs) can be a rapid deployment mechanism for independent financial advisors.

In a new report, Unified Managed Accounts Outsourced Programs, Turnkey Asset Management Programs (TAMPs): Springboards to UMA Deployment, Celent looks at the TAMP industry as a solution for firms to gain quick entry to the UMA business. The UMA business is an optimal account structure and relationship basis for serving the high end mass affluent, high net worth, and even some ultra-high net worth clients. Using a TAMP allows a firm to be in the UMA business with little investment in either technology or support.

TAMPs already hold almost $320 billion in client assets, over 5% of that in UMAs. Most notably, UMAs are the fastest-growing portion of the TAMP business.

This is the second of three Celent reports focusing on the UMA space. The report discusses the characteristics of TAMPs, summarizes the major concepts, and details the offerings and features of various TAMP providers. Also included are screenshots of interesting differentiators among TAMP firms.

According to Robert J. Ellis, Senior Vice President of Celent’s Wealth Management practice, "Technological advancement, and the rate at which the service providers adapt to utilize all the benefits of a UMA, will be differentiating factors for high net worth advisory firms. If firms are not currently utilizing the platform and overlay tools of existing UMA technology providers, TAMPs may well be their best solution for relevance over the next few years."

"We firmly believe that UMAs represent the best in wealth management and that TAMPs assist in creating a competitive offering quickly," Ellis added.

This report examines the size of the TAMP industry and its share of assets. It also looks at projected growth rates for the UMA component, the pros and cons of using TAMPs, the impact of industry and wealth management consolidation, the growing preference for the advisory model among firms and clients and its impact, plus the growing role of independent consultants. The report then profiles nine TAMP providers (ADVISORport, Brinker, Curian, Envestnet, FundQuest, Genworth, Lockwood, Prudential WMS, and SEI) plus a couple of smaller players.

This 44-page report contains 25 figures and three tables. A table of contents is available online.

Members of Celent's Wealth Management research service can download the report electronically by clicking on the icon to the left. Non-members should contact info@celent.com for more information.

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