Separately managed accounts and alternative funds are poised for growth and fund firms need to be on top of their social media game to participate in the growing mutual fund space, according to a new report by Curian Capital.

SMA usage is poised to grow with advisors ranking them as the product they plan to increase their usage of the most this year. Alternative investments are a growing asset class as more than 30% of advisors said they currently have 10% or more of their assets under management allocated to alternative asset classes. And more than 31% of respondents said they plan to increase their use of alternative investments by 5% to 10% this year.

In managing their practices, time is the most critical resource for advisors, according to Mark Schoenbeck, senior vice president of marketing for Curian. “It’s clear from the survey that providers need to continue to offer innovative and user-friendly products and technology to help address these concerns and simplify the investing process. The findings also reiterate that to be successful, modern mobile apps need to not only be intuitive and effective, but supported with comprehensive education and guidance tools,” he said.