SEI added several proprietary and separately managed third-party accounts to its Managed Account Solutions program, including products from AllianceBernstein, Loomis Sayles and Parametric Portfolio Associates.
“The expansion of our SMA offerings reflects our commitment to providing advisors with differentiated investment solutions that provide customized strategies and access to what we believe to be world-class portfolio management,” said Jim Smigiel, SEI's chief investment officer and head of the investment management unit. in a statement. “We believe these offerings will provide advisors with strong options to help their clients achieve long-term financial success.”
New strategies include AB Tax Aware Fixed Income (SMA) and AllianceBernstein's AB Tax Aware Limited Duration (SMA). The SEI suite now includes the AB's Municipal Revenue Portfolio (SMA) and AB's Municipal Impact Portfolio (SMA) strategies.
Additionally, SEI added Loomis Sayles Core Plus Fixed Income Managed Account, Core Fixed Income with Securitized Asset Fund Managed Account, Government Only Managed Short Account and Government Only Managed Account.
Most recently, SEI is adding Parametric's Custom Core Global ADR strategy, ex-U.S.
As for its proprietary products, SEI unveiled the Systematic Global Dividend Yield and Systematic International Equity Core (ADR) strategies.
“By integrating these solutions, advisors gain access to a powerful set of strategies and tools designed to optimize portfolio management and help clients achieve their financial goals,” Erich Holland, head of client experience, said in a statement. for SEI advisors business.
A study by advisory firm Escalent earlier this year found that financial advisers continued to do so favor SMAs due to low fees and wide investment options. Advisors in Escalent's survey are expected to increase their average SMA allocations by 800 basis points to 26% between the end of 2023 and 2025. Advisors of high net worth investors are expected to increase their SMA allocations from 23% to 31%.
AllianceBernstein Launches Direct Balanced Index Platform
In a separate announcement, AllianceBernstein unveiled its AB Tax Advantaged Balanced Direct Index portfolio, combining equities and municipal bonds into a separately managed core account.
The managed account includes automated tax loss harvesting in stocks and bonds and AB Intelligent Rebalancing, “which seeks to reduce the tax costs associated with rebalancing.”
Portfolios can be customized across asset mix profiles, including growth, balanced and income, as well as a variety of indices.
It also launched AB Tax Advantaged Equity Direct Index and AB Tax Advantaged Strategic Research Balanced with Municipals, which are add-ons to equity-only direct indexing and tax-managed multi-asset active portfolios, respectively.
“Over the years, AB's municipal platform has become a pillar of the firm's high net worth brand securing an industry-wide reputation as a leader in tax-optimized, technology-driven fixed income solutions, ” Noel Archard, head of AB. ETFs and portfolio solutions, it said in a statement. “Combining direct equity indexing together with municipalities is a natural extension of our capabilities, allowing us to better serve our clients seeking better after-tax results.”