NEW YORK - The growth of the SMA marketplace hasn't only caused financial intermediaries and investors to adapt to a new managed account model. Investment management firms are finding they have to carve out their own path to SMA success.
"The move into separate accounts is transforming AIM," said Mark McMeans, president of AIM Private Asset Management, the managed account unit of AIM Investments of Houston, speaking at a conference on separately managed accounts here, sponsored by the Money Management Institute. "We think of separate accounts being added to AIM as additive to clients and advisors." McMeans said. AIM found that 75% of the representatives who have done SMA business with the firm also utilize AIM's mutual funds.