Managed Account solutions surpass $6 billion
24 October 2023
Insignia Financial today announced its Managed Account solutions have exceeded $6 billion in funds under management (FUM).
Insignia Financial offers a range of Managed Account solutions to meet the diverse needs of clients, including Managed Discretionary Accounts (MDAs) and Separately Managed Accounts (SMAs).
Over the past 12 months, the firm’s managed accounts have experienced significant growth of more than 42%. Growth continued throughout the year, with September 2023 experiencing record monthly net flows of $248m into Insignia Financial’s MDA and SMA solutions.
The firm’s Managed Account solutions are offered via Insignia Financial’s proprietary products, Expand Extra and MLC Wrap, along with select external platform providers. To date, Expand Extra, has received more than 55% of total FUM through its various MDA solutions. Growth in the MLC Asset Management managed SMAs available on MLC Wrap continued with FUM exceeding $1.3 billion.
Insignia Financial Chief Distribution Officer, Mark Oliver, said: “We are pleased to see the uptake in our Managed Account solutions, as advisers look for ways to streamline operations and generate improved outcomes for clients. Their continued growth demonstrates the important role managed accounts play for financial advisers and their clients.”
Read the full media release here.