Separately managed accounts (SMAs) are gaining traction among financial advisors, with Cerulli Associates projecting assets in these programs to surpass $2 trillion in 2025. Assets grew 12% in 2023 and are expected to rise another 15% this year, boosted by the popularity of unified managed accounts (UMAs) that combine SMAs, mutual funds, and ETFs for tax efficiency and personalization. 

Advances in technology have made SMAs easier to manage, lowering minimums from millions to as little as $100,000 and expanding access beyond just high-net-worth clients. 

Advisors now use SMAs to tailor portfolios for tax management, ESG preferences, or concentrated stock positions, while UMAs provide a holistic view for strategies like tax-loss harvesting. The shift from commission-based brokerage accounts to fee-based managed accounts reflects investor demand for fiduciary oversight, transparency, and control. 

Finsum: With features like fractional share trading and portfolio-wide tax optimization, SMAs are increasingly seen as a flexible and efficient tool for personalized wealth management.

The 2025 NFL season is nearly here, and ESPN has released its final offseason Power Rankings, weighing holdouts, injuries, and breakout performances ahead of Week 1. 

• The Philadelphia Eagles top the list at No. 1, with new offensive coordinator Kevin Patullo under pressure to keep the team’s high-powered offense running smoothly after last year’s Super Bowl win. 
• The Kansas City Chiefs come in at No. 2, where wide receiver Rashee Rice faces expectations to prove he can be the go-to option alongside veteran Travis Kelce. 
• Ranked third, the Buffalo Bills are counting on Joey Bosa to stay healthy and anchor the pass rush after signing a one-year deal. 
• The Baltimore Ravens take the fourth spot, with tight end Mark Andrews needing to bounce back in a contract year after an uneven 2024 season. 

Finsum: Overall, the rankings highlight both team depth and the individuals most under the microscope as the new season kicks off.

Financial advisors often focus on younger investors, but women over 60 are becoming a powerful and growing segment of primary asset holders. Many acquire wealth through widowhood, divorce, or lifelong independence, and they bring unique priorities to financial planning, including legacy, caregiving roles, and family impact. 

According to Jen Hollers of LPL Financial, these women value personalized, relationship-based advice and often seek to align their financial decisions with personal values rather than focusing only on performance. 

A challenge for advisors is that many older women are new to active wealth management, having been excluded from earlier financial conversations, and may feel overwhelmed when suddenly in charge. Hollers urges advisors to lead with listening, avoid jargon, and embrace a holistic model that blends estate planning, family dynamics, and legacy goals into a cohesive plan. 

Finsum: By fostering transparency, empathy, and family involvement, advisors can help ensure these clients’ intentions are honored while also building lasting relationships with the next generation.

Farther has launched an AI-powered Investment Proposal tool, designed to help advisors generate customized client proposals in under 10 minutes. Built entirely in-house, the tool consolidates tasks that once required multiple platforms into a single secure system, ensuring both efficiency and compliance. 

It analyzes a prospect’s existing portfolio, compares it against Farther’s investment models, and produces tailored recommendations that advisors can further refine. The goal is to streamline onboarding while delivering more personalized and client-friendly proposals, helping prospects better understand their options. 

Advisors already using the tool say it allows them to focus more on strategy and client conversations, making their pitches more effective. 

Finsum: AI continues to modernize wealth management by blending automation with human expertise.

In the evolving “post-60/40” investing landscape, alternatives often come with higher fees and reduced liquidity, but investors tolerate these trade-offs for the potential of higher returns and skilled management. Wealth managers stress that allocations should reflect an investor’s liquidity needs, risk tolerance, and experience, with recommendations ranging from a cautious 10% to as high as 50% for those with no short-term cash flow requirements. 

While some, like Marina Wealth’s Noah Damsky, seek niche managers with unique strategies, others—such as International Assets Advisory’s Ed Cofrancesco—favor straightforward private real estate projects for their simplicity and transparency. 

Ballast Rock Private Wealth’s Andrew Mescon highlights private credit and private equity secondaries as compelling opportunities, citing diversification, downside protection, and discounts to net asset value as advantages. Managers also note the growing role of evergreen fund structures, which can ease liquidity constraints and broaden access to these asset classes. 

Finsum: Ultimately, successful alternative investing hinges on aligning product complexity, fees, and liquidity with each investor’s unique financial situation.