A news release from the two firms said the UMA is designed for independent investment consultants and financial intermediaries servicing high net worth individuals, family offices, endowments, foundations, and retirement plans. According to the companies, the UMA program is designed for investors with assets of $1 million to $150 million and is only available to IAG clients.
IAG will provide investment manager selection, ongoing due diligence, and quarterly performance reports to UMA clients, while MPA will execute strategy implementation, tax management, and rebalancing. Advisers using Callan’s UMA program can build customized, portfolios utilizing more than 70 investment products, including 29 account strategies as well as a variety of mutual fund and exchange-traded fund (ETF) choices.
“What is unique about Callan’s UMA program is that middle market investors get the same flexibility and access to research as our institutional clients without the operational challenges or high fee structures of existing separate account programs,” said Brent Considine, senior vice president, IAG, in the announcement.
Some additional benefits of the program include, according to the announcement:
- A turnkey investment management solution;
- Ability to customize allocations and manager structures per account;
- Portfolio coordination across multiple managers within the UMA;
- A la carte menu of high quality investment products;
- Single contract solution;
- Fee transparency;
- Client-specific comprehensive performance measurement reports;
- Detailed analytics and qualitative due diligence on underlying managers; and
- Automatic portfolio rebalancing and strategic tax management.
More information is available at www.callan.com.