Separately Managed Accounts (SMA) Setup & Use
Separately Managed Accounts (SMAs) are securities owned by the client but managed by an investment professional.
SMAs are usually a non-unitized registered Managed Investment Scheme, governed by a constitution and a Product Disclosure Statement (PDS).
SMAs are constructed on a model portfolio basis by an investment professional, any changes in the model portfolios will result in corresponding changes to the client’s portfolios.
In Adviser Logic, SMA’s platforms show along with their specific costs and asset allocations.
To setup an SMA, go into the Digital Advice Module from a client card
Select Digital Advice settings from the top right of the screen.
Go to General Settings > SMA Setup and select the blue Change button.
On the SMA Setup screen, search and select the SMA manager by ticking the checkbox on the right side of the window and select next. It is possible to select multiple managers from this screen.
Select a platform in which to invest your SMA’s, then select Next.
The available SMAs for all the SMA managers you have selected will show in the next window.
The platforms you have selected in the previous step will show the Investment Fees and Costs, by prepopulating the information captured by our in-house database team, and provided by the fund managers for each SMA. The fee fields are editable.
AdviserLogic currently provides SMA fees for:
- BT Panorama
- Macquarie e-Wrap
Recommending SMA via Digital Advice:
The SMAs that you have set up can be found under the Model Portfolio/SMA drop-down within pertinent Digital Advice Scenarios.
Go to Digital Advice > Scenarios > Select your recommended Investment or Super strategy > Assets. Select your recommended SMA from the Model Portfolio/SMA drop-down menu.
Once selected, a box will open to show the platform along with the Investment Fees and Costs (%) you set up previously. Select Save
These SMA setups are available at the Practice level. Any modifications to the SMA & the fees associated with them will apply to the entire practice when you save.
The SMA managers and platforms appear alphabetically except for Morningstar SMAs, which by default will appear at the top. AdviserLogic currently fields 142 SMA’s.
Please note presently we are not able to cater to Implemented Portfolios (SMAs).