Model portfolios represented close to 30% of fund assets managed in the U.S. through financial advisors and brokerages, according to a recent report from Broadridge.
Custom and direct indexing offers wirehouses and intermediaries the ability to invest their clients in passive offerings with customization options for taxes or environmental, social and corporate governance strategies.
A study by the Investment Adviser Association and National Regulatory Services found the trend toward consolidation continuing apace, with the largest advisors accruing assets much faster than their smaller peers.
Major regulatory reforms will be necessary for defined contribution plan participants to get greater access to alts strategies, according to industry executives.
With the SEC poised for a change in leadership, Democratic Sen. Sherrod Brown slammed the decision to give broker-dealers six months to fix their management of customer collateral.