National Financial enhances UMA system

National Financial Services LLC of New York, a subsidiary of Fidelity Investments of Boston, announced today that two new sets of features have been added to its Managed Account Solutions program. These include adviser-directed unified managed account capabilities added to the company’s Streetscape workstation product and three new third-party wrap strategists for mutual fund and exchange traded funds portfolios.
The Managed Account program currently has $6 billion in managed-account assets and over 70 participating brokers-dealers.
Managed Account was a collaborative effort between National Financial and Envestnet Asset Management Inc. of Chicago, creators of the web-based platform of the same name.
Advisers use the system to determine asset allocations based on a client’s risk profile.
With the new features, advisers can delve more deeply into rates of return and compare the diversified allocation options available and analyze historical rates of return.
Advisers can also adjust ETFs and mutual funds, and change an account’s money manager.
In addition the UMA enhancements, National Financial expanded its wrap advisory program to include three third-party mutual fund and ETF wrap strategists.
These include Morningstar Investment Services, Inc., Standard & Poor’s Investment Advisory Services LLC, and Symmetry Partners, LLC—all accessible from within the UMA system.