Smith Barney Consulting Group, New York, debuted Integrated Investment Services, an innovative, proprietary unified managed account platform last October that allows captive Smith Barney financial consultants to see the bigger picture. The platform lets them look broadly across their high-net-worth and institutional clients' investment holdings.
Five months hence, the firm has seen both benefits and challenges to that new capability. For the first time, Smith Barney reps can now combine data for each client's many separately managed accounts along with their individual mutual funds and exchange-traded funds (ETFs), all in a single screen right on their desktop PC. Before, reps had to juggle and track multiple client accounts. According to Smith Barney executives, approximately 50% of those who own managed accounts through the firm are also invested in ETFs and mutual funds.