MetLife Broker/Dealer Group’s investment advisory product platform, Wealth Management Services (WMS), has amassed $6 billion in assets under management (AUM) across some 30,000 accounts, the firm announced Tuesday, June 8. This figure represents a $2 billion increase over the past year.
The number of WMS accounts has grown by an average of 60% a year since its introduction six years ago-”a clear sign that investors have begun shifting toward active management of their investments, and professional guidance and advice when making their decisions,” John Brett, a MetLife senior vice president, said in a statement.
Launched in 2004, WMS enables advisors to integrate a client’s eligible accounts into a single, consolidated portfolio. MetLife has added numerous enhancements over the platform’s lifetime. In 2009, the firm rolled out a second generation product platform, which now includes a Flexible Unified Managed Account. WMS is currently available through all broker/dealer channels at MetLife: MetLife Securities, New England Securities, Tower Square Securities, and Walnut Street Securities.