Advisory Solutions Assets Surpass $10T in Q3 2021 – MMI-Cerulli Data Show

MMI-Cerulli Advisory Solutions Quarterly Available for Download
MMI and Cerulli Associates announce the release of the Q3 2021 edition of Advisory Solutions Quarterly, which provides statistics on the managed accounts industry as of September 30, 2021.

While managed account assets crossed $10 trillion in assets for the first time during the third quarter, the quarter-over-quarter growth (2.4%) was significantly less than the expansion experienced during 2Q 2021 (7.9%). An equity market pullback in September 2021, as well as slightly more muted net flows, contributed to the modest growth during the quarter. Separate accounts led the way in net flows in 3Q 2021, gathering $66 billion in net flows for the quarter.

Download Advisory Solutions Quarterly – Q3 2021

Separate Accounts Go Back to Their Roots
This edition also delves into the increasing interest in responsible investing as a driving force accelerating the personalization of SMAs. Customization remains an underused feature of SMAs, but the growth of direct indexing and the growing preference for ESG investing, especially among younger investors, promise to accelerate the personalization of SMAs.

MMI-Cerulli Advisory Solutions Data Portal Updated
The MMI-Cerulli Advisory Solutions Data portal on Cerulli’s Lodestar platform has also been updated with Q3 2021 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 feel free to reach out if we can be of any help.

  • Accessing the Advisory Solutions Quarterly report – call (646) 868-8500 or email
  • Questions on the report, access to the online portal, or contributing data – email