Unified managed accounts are one of the most efficient ways to structure wealthy families' assets. Lockwood Advisors is more eager than ever to get them in front of more investors than ever in the new year.
Advisors will now be able to deploy Lockwood's Flexible UMA on accounts as small as $50,000 and a minimum fee of 30 basis points, down from $250,000 and 75 bp respectively on the network's legacy UMA programs.
Given the ease with which UMAs integrate multiple asset classes into separate reporting "sleeves," opening up to down-market clients lets advisors attribute performance more transparently while opening up to opportunities regardless of legacy compensation models.
Want to bring in an SMA, ETF, mutual fund or proprietary models to fill a specific client need? No problem. UMAs will do that. And now, at Lockwood, you don't need to shut out your mass affluent clients.
Furthermore, you're allowed to tinker with the allocation to add your own value. It's truly "flexible."
Pershing affiliate Lockwood already provides full-cycle administration and backoffice support via its Managed360 program, which depended heavily on SMA research and pre-constructed portfolios.
ETF and mutual fund versions are still available at a $10,000 minimum while tax sensitivity, alternatives and individual securities remain available at the $250,000 level and beyond.
Needless to say, it's all integrated into the Pershing custody and brokerage ecosystem but Lockwood is open to reaching more widely. Reportedly "several" firms are already negotiating.
