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MMI-Cerulli Q2 2023 Advisory Solutions

October 2, 2023



The Q2 2023 edition of MMI-Cerulli Advisory Solutions Quarterly, which provides statistics on the managed accounts industry as of June 30, 2023 is available for download. This edition also looks at asset managers' top priorities for 2023, per findings from Cerulli's annual survey.

Managed account assets climbed 5.2% to $10.6 trillion in Q2 2023, closing just below their all-time high of $10.7 trillion. Boosted by strong growth in the U.S. equity markets, managed account assets rose for the third quarter in a row, and 12.9% year-over-year. While growth was fairly consistent across all managed account product types, separate account assets led the way, increasing 5.8%. Net flows for the quarter were $113.8 billion, down 7.1% from Q1 2023. RPM programs led the way with net flows of $40.9 billion for the quarter, followed by UMAs ($34.7 billion) and separate account programs ($22.7 billion). 

The State of SMA Asset Managers: Top Priorities for 2023
This edition also looks at asset managers’ top priorities for 2023. Per findings from Cerulli’s annual survey, the top three priorities for asset managers this year are broadening product distribution, increasing their ability to offer personalized investment solutions, and creating new investment vehicles. Top product priorities include active ETFs, model-delivered separate accounts, interval funds, and collective investment trusts (CITs).

MMI-Cerulli Advisory Solutions Data Portal 
The sponsor and manager dashboards on the MMI-Cerulli Advisory Solutions Data portal on Cerulli’s Lodestar platform have been updated with Q2 2023 data. 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:

  • with questions on the report, access to the online portal, or contributing data
  • for assistance accessing the Advisory Solutions Quarterly report