Business Services Industry
Brinker Capital's Unified Managed Account Offering Tops $500 Million in Assets
Business Wire, March 19, 2008
Account Size is Nearly Double Industry Average
BERWYN, Penn. -- Brinker Capital, a leading independent investment management firm providing managed account and mutual fund services, today announced that its Unified Managed Account (UMA) product has crossed the $500 million in assets under management threshold. Brinker's offering is now the eighth-largest in the UMA universe based on assets, according to a 4Q 2007 Cerulli Associates report(1).
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Launched in 2006, the simplified account structure of Brinker's UMA allows advisors to offer clients robust asset allocation in a fully diversified portfolio designed to help meet a client's goals, risk tolerance and asset level. Brinker's UMA incorporates managed accounts, mutual funds, exchange traded funds (ETFs) and alternative investments on a single administrative platform. Clients also benefit from consolidated reporting, while receiving one monthly custodial statement and one year-end 1099.
"We're delighted to reach this milestone, made possible by financial advisors' adoption of our UMA model's simplified structure and ease of use," noted Noreen Beaman, Brinker Capital's Executive Vice President of Strategic Planning and architect of the company's UMA. "Before bringing this product to market, we spent a great deal of time asking our advisors what features they wanted in a UMA. They told us and we responded."
Ms. Beaman noted that as of February 2008, Brinker's UMA had an average account size over $800,000. This compares to the average industry account size of $400,000-$500,000.
UMA Enhancement
Last month Brinker Capital announced the debut of a pioneering enhancement to its UMA with the addition of a Tax Transition strategy. The Brinker Capital UMA+Tax Transition (UMA+TT) offers financial advisors the ability to help transition a client's assets to a diversified portfolio over time, while negotiating potential negative tax consequences.
The UMA+TT combines tax management with asset allocation that can incorporate managed accounts, mutual funds and ETFs into one fully-diversified portfolio. Through a review of clients' portfolios, Brinker's UMA+TT is able to retain in-kind legacy holdings and harvest losses, while building a portfolio around the client's existing low basis or concentrated positions, all over a client-directed time horizon. Investment advisors are now able to attract prospective clients by offering the ease and efficiency of the traditional UMA with sophisticated tax management solutions in the transition of assets.
About Brinker Capital
Brinker Capital, Inc. is a leading independent investment management firm which provides managed account investment programs to individual and institutional investors through financial advisors. Brinker was founded in 1987 by Charles Widger and is located in suburban Philadelphia. Assets under management were over $9.7 billion as of December 31, 2007. Visit Brinker's website at www.brinkercapital.com.
(1)Cerulli Associates Managed Account Research, 4Q 2007
Exhibit 10, Page 6
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