Program Development
Developing a full UMA platform is a daunting task. Firms looking to launch a Unified Managed Account platform generally have three options: build the program internally using overlay management and accounting technology capable of supporting a UMA program, hire a turnkey asset management platform that includes a pre-packaged UMA solution, or work with a third-party overlay manager such as Placemark to help build and operate a program specifically designed to meet the sponsor’s specifications. Depending on the firm’s needs and resources each option has its advantages; however, for firms that wish to get quickly to market with a comprehensive program utilizing their preferred products/managers and back-office systems, working with a third party overlay manager may be the best choice.
No firm in the industry is more experienced at implementing and operating open-architecture UMA programs than Placemark Investments. We work directly with our sponsor’s product team, implementing their product strategy, leveraging their preferred investment managers and back-office systems to implement a program that meets the needs of the institution, its financial advisors, and its clients. Placemark works with its partners throughout the development process, helping sponsors through all aspects of designing and developing a successful UMA program:
| Product Design |
| Manager Recruiting |
|---|---|---|
| Firms want to bring to market the best possible product, one that not only meets the needs of their advisors and clients but is also efficient to operate and supports the long-term strategic needs of the firm. Placemark works with the sponsor’s product development team to design the asset allocations, feature sets, and flexibility the sponsor feels are best suited for its clients and advisors. | A successful UMA program is only as good as the managers who participate in the program. Placemark works with more than 140 investment managers offering more than 250 investment strategies. Placemark’s operational experience and industry knowledge have made us a preferred partner for today’s leading institutional investment managers. |
| Legal & | Economics & | |
|---|---|---|
| UMA programs introduce new legal structures, contracts, disclosures, and compliance requirements. Placemark has experience working with the legal personnel of sponsor organizations to expedite contract development and address the legal and regulatory risks inherent in launching a new investment program. | By combining various types of products with varying costs in a single account structure, UMA programs have the potential to introduce complexity into the billing, pricing, and advisor compensation processes. Placemark works with the sponsor to analyze the economics of a program and implement a customized solution to improve efficiency and profitability. |
| Operations & Administration | Desktop Technology & Systems Integration | |
|---|---|---|
| Many of the operational processes used to support traditional SMA and mutual fund wrap programs are affected in a UMA program. Placemark works with the sponsor operations team to develop and document all necessary operational processes, resulting in a more efficient program with lower risk and cost for all parties. | UMA programs typically require the development of new advisor technologies and enhancements to back office trading, custodial, and portfolio accounting systems. Placemark works closely with the sponsor’s technology, operations, and product development staff to implement a tightly integrated back-office and advisor technology solution. |
| Investment Management | Advisor Sales Support | |
|---|---|---|
| Placemark operates the industry’s most flexible and sophisticated overlay management process. Placemark works with the product development and research groups of the sponsor organization to customize our investment system to meet its specific needs. | Placemark Investments has a team of highly skilled advisor support resources, as well as regional consultants located throughout North America. Placemark works with the advisor education and support resources within the sponsor organization to support its specific program needs, complementing existing resources and programs. |