Consumer Desire for Customization Drives Retail Banking Growth.

DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c40223) has announced the addition of "Separately Managed (Fee-based) Accounts in the United States" to their offering.

The separately managed account (SMA) business for retail investors has grown from less than $200 billion in assets under management a decade ago to nearly $700 billion today. According to our forecast and other estimates, this number is expected to top the $1 trillion mark in the next four years. Behind this growth are primarily high-net-worth investors seeking enhanced performance and customization. Working with an advisor, investors have a considerable degree of freedom to customize a separate account, which cannot be done with a traditional mutual fund portfolio. A classic analogy that is often used to describe SMAs is custom-tailored clothing. Whereas a mutual fund is akin to an "off-the-rack" suit, an SMA is designed to meet individual customer requirements.

As demand for this custom approach has grown, the landscape of providers is changing. The separate account business has traditionally been dominated by large brokerage firms, the so-called wirehouses, which invented the concept in the 1970s. While these firms still control more than 79% of the market, new entrants such as banks, discount brokers, mutual fund firms, and insurance companies are embracing the business. Along with these new participants, new products are being launched as well. Multiple Discipline Accounts, for example, offer the ability to employ the basic SMA concept in a more diversified manner.

It is believed that the growth in the SMA business will continue at a healthy pace, particularly as these accounts are used as a tool to capture rollover assets over the next decade. While this will not be the primary type of investment for most investors, it will continue to be an important part of the financial "toolkit" offered to these consumers.

This report covers recent developments in the marketplace for separately managed accounts including account structures (SMAs, UMAs, MSAs and others), outsourcing trends, distribution channels and growth in assets. The report also examines the consumer preferences of SMA investors, including different types of customization, tax advantages and investment performance.

Key Topics Covered Include:

--Introduction and Abbreviations

--Definitions

--Abbreviations and terms

--Executive Summary

--State of the market

--Key developments

--Implications for the industry

--What SMA investors think?

--Market Drivers

Companies Mentioned Include:

--Bank of America

--Citigroup

--Fidelity Investments

--Financial Engines, Inc.

--JPMorgan Chase

--Lockwood Advisors

--Merrill Lynch

--Morgan Stanley

--Schwab

--Wachovia

--Bisys Fund Services, Inc.

--CheckFree Corp.

--Curian Capital

--FundQuest

--Placemark

--SEI Investments Co.

--SunGard

--Vestmark

For more information visit http://www.researchandmarkets.com/reports/c40223