Zacks Expands SMA to Mid-Market Plans

Zacks Investment Management, a Chicago-based registered investment adviser (RIA), has expanded its separately managed account (SMA) offering to the mid-size retirement plan market.

According to a news release, Zacks Retirement Plan Solutions is currently available to micro and small defined benefit and defined contribution plans, in a SMA structure. It will now move into the mid-sized part of the market (defined as $20 to $50 million, according to the company).

Zacks said its separate account product is offered as part of its partnership with FOLIOfn Institutional, based in Vienna, Virginia.

“Years ago, we saw an opportunity to use the same low-cost SMA structure that we incorporate in our private client business in the retirement plan market,” said Andy Zimmer, managing director of Zacks Wealth Management, in the release.