Morningstar Wealth, a division of Morningstar, announced the addition of third-party Separately Managed Accounts (SMAs) to its Morningstar U.S. Wealth Platform, after undergoing a rigorous selection process. This expansion offers increased flexibility and choice to advisors and their clients, elevating the advisor-investor experience.

The newly added third-party SMAs have been curated from leading asset management firms including AllianceBernstein, Congress Asset Management, John Hancock Investment Management, Lazard Asset Management, Putnam Investments, and WCM Investment Management. These additions expand the range of investment choices advisors have to build portfolios and holistic unified managed accounts (UMAs), tailored to their clients’ specific goals and objectives.

“Morningstar’s dedication to empowering advisors is core to why we implemented a manager selection process leveraging our renowned manager research team to provide a curated selection of investments available on the Wealth Platform,” said Cindy Galiano, managing director of U.S. Wealth Platform & Investment Solutions at Morningstar Wealth. “Here, advisors can readily access vetted investment options to best serve their clients, eliminating the need to navigate a vast marketplace.”

SMAs have witnessed substantial growth in the investment landscape, doubling their assets under management to nearly $2 trillion since 2019. This growth trend is expected to persist, with SMAs projected to reach $3 trillion in the near future, according to Cerulli Associates.

Source: Morningstar