Managed account providers are placing greater emphasis on the quality advice they dispense than on the products they offer, according to research by Cerulli Associates. “The product that managed accounts offer is advice. This is the mantra that inspired the industry’s momentum toward vehicle neutral, next-generation platforms,” Cerulli wrote. The research firm also noted a trend toward assigning advisers with specialized knowledge in a particular area. “Advisor segmentation is key, and proactive managers are differentiating by supporting sponsors with advisor-specific seminars and educational materials.”
