Managed Account Assets Grow 2.4%,
Reaching $12.6 Trillion in Q2 2024
- MMI-Cerulli Data
The newest edition of MMI-Cerulli Advisory Solutions Quarterly, with data through 6/30/2024, is now available for download.
Managed account growth decelerated in Q2 to 2.4%, following strong Q1 growth (7.1%) boosted by market appreciation. Despite the slower growth, industry net flows increased to $181.9 billion, up 9.3% from the previous quarter. Led by unified managed accounts ($59.8 billion), separate accounts ($47.9 billion), and rep as portfolio manager programs ($46.7 billion), all program types except rep as advisor (-$0.3 billion) experienced increased net flows from Q1. Long-term industry growth remains robust as all managed account program types have experienced double-digit year-over-year growth and 2-year growth rates in excess of 25%.
Asset Managers Prioritizing New Distribution Opportunities, Product Development
This edition of Advisory Solutions Quarterly also examines asset managers' top strategic priorities and the product solutions they plan to develop in 2024. With wirehouses continuing to cede marketshare to other channels and many RIA aggregator firms achieving scale, broadening product distribution to new channels remains the top priority for asset managers in 2024.
Creating new investment vehicles and increasing the ability to deliver personalized investment strategies are managers' next two most cited priorities. Delivering their strategies in multiple wrappers and meeting client desire for personalization is top of mind for asset managers and a key component to retaining marketshare. Active ETFs remain the top product solution that asset managers are looking to add, followed by model-delivered SMAs, and manager-traded SMAs.
of asset managers prioritize developing active ETFs in 2024.
MMI-Cerulli Q2 2024 Advisory Solutions Quarterly Highlights
Joan Lensing of MMI and Scott Smith of Cerulli highlight the key findings in the Q2 2024 edition of MMI-Cerulli Advisory Solutions Quarterly.
MMI-Cerulli Advisory Solutions Data Portal
The sponsor and manager dashboards on the MMI-Cerulli Advisory Solutions Data tab on Cerulli's client portal have now been updated with Q2 2024 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.
Contact
With questions on the report, access to the online portal, or contributing data:
Email mmidata@cerulli.com
For assistance accessing the Advisory Solutions Quarterly report:
Email info@mminst.org
