Allspring unveils SMA platform enhancements

Allspring unveils SMA platform enhancements
The North Carolina-based global asset manager is strengthening its custom SMA platform with new active and index strategies.
JUN 06, 2024

Allspring Global Investments has announced significant enhancements to its custom separately managed account platform.

The global asset manager announced Thursday that advisors and end-clients using its SMA platform, REMI, can now access the firm's actively managed core-plus fixed income strategy, CoreBuilder Core Plus in an SMA wrapper.

"These latest innovations represent a big step in creating a truly comprehensive solution," said Manju Boraiah, co-head of custom SMA investments, said in a statement.

"The addition of CoreBuilder Core Plus, together with our existing active CoreBuilder Municipal Income strategy offering, means we're delivering active management across the spectrum in a major asset class that arguably benefits most from it—fixed income," Boraiah said.

On the direct indexing front, Allspring revealed it had added an international EAFE index to its platform, giving users an added opportunity for global diversification. The firm also introduced the ability to blend equity indexes on the REMI platform, creating additional flexibility.

"These new enhancements represent our commitment to the needs of financial advisors and our desire to be a leader in solving their most complex client challenges," said Katie D'Angelo, head of global relationship management.

Advisor adoption of Remi and Allspring's suite of customized SMA products has been growing. Assets on the platform surpassed $3.1 billion by the end of the first quarter, driven by net inflows of $245 million. Additionally, Allspring reported a 146 percent increase in Remi users in the first quarter of 2024 compared to the same period the previous year.

With more than $66 billion in assets, Allspring Global Investments is currently the 11th-largest SMA provider in the United States.

"If our tax-managed and customized solutions can help advisors meet the needs of their wealthiest clients, we can help them grow," D'Angelo said.

Headquartered in Charlotte, North Carolina, Allspring Global Investments was the asset management division of Wells Fargo until 2021, when it was snapped up for a hefty $2.1 billion by private equity firms GTCR and Reverence Capital Partners.

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.