MMI-Cerulli Q3 2020 Advisory Solutions Data Available

MMI and Cerulli Associates announce the release of the Q3 2020 edition of Advisory Solutions Quarterly, which provides statistics on the managed accounts industry as of September 30, 2020. Managed account industry assets ballooned to $7.8 trillion at the end of the third quarter, having expanded 12.3% during the past year and 20.5% over the last two years. Net flows for the quarter bounced back to $115.5 billion, approaching pre-COVID levels, with UMA flows leading the way at $32.4 billion. 

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Direct Indexing Moves Downmarket
This edition also examines the hot topic of direct indexing. Traditionally a high-net-worth product, advances in algorithmic portfolio construction techniques, the collapse of trading fees, and the growth of fractional shares has opened direct indexing to affluent and mass-affluent clients. Some asset managers are betting that passively managed separately managed accounts (SMAs) – customized in a scalable way for taxes, social concerns, and other factors – will breathe new life into the SMA category. But 44% of asset managers surveyed by Cerulli believe the market for direct investing has been overhyped and represents little opportunity.

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 2020 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.

As you navigate this challenging environment, 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 events@mminst.org

Questions on the report, access to the online portal, or contributing data:
Email mmidata@cerulli.com