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Portfolio > Portfolio Construction

Morningstar Wealth Platform Adds Outside SMAs

By Dinah Wisenberg Brin

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Morningstar Wealth announced this week that it has added third-party separately managed accounts to its U.S. wealth platform for advisors.

The new SMAs were selected from major asset management firms including AllianceBernstein, Congress Asset Management, John Hancock Investment Management, Lazard Asset Management, Putnam Investments and WCM Investment Management.

Morningstar said the SMAs expand the range of investment choices that advisors can use to build portfolios and unified managed accounts, tailored to clients’ individual goals.

SMAs have witnessed substantial growth, doubling their assets under management to nearly $2 trillion since 2019, according to Morningstar Wealth, a turnkey asset management program and Morningstar Inc. business.

That trend is expected to persist, with SMAs projected to reach $3 trillion soon, the firm said, citing data from Cerulli Associates.

Image: Adobe Stock

Dinah Wisenberg Brin

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