Managed Portfolio Advisors is looking to new channels for its unified managed account offerings and has created a new management position to oversee the task. The firm is focusing on registered investment advisors, banks, trusts and small institutions. “People are realizing that UMAs make sense for a lot of clients and work in spaces other than retail,” said Curt Overway, president. John Bearce has been promoted to senior v.p. of business development and will focus on forming new overlay relationships in those channels. Managed Portfolio Advisors is in talks with a firm in the RIA channel and will place 15 new strategies with the firm in about a month, said Overway. He did not name the firm.
Managed Portfolio Advisors is also integrating index-based separate accounts into its offerings and is pushing them as a tax-efficient alternative. “Through loss-harvesting we can give people a better after-tax return than if they had invested in an index fund or an ETF. It’s a great transition tool for an advisor with investments on a low cost basis,” said Overway.
Managed Portfolio Advisors has $14.7 billion in assets.
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