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Overview
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, and any changes in the model portfolios will result in corresponding changes to the client’s portfolios.
In AdviserLogic, SMAs are shown as invested in platform with their specific costs (ICRs) and asset allocations.
Setting Up SMAs
Go to Digital Advice (via any client card) > Settings
Go to General Settings > SMA Setup and select the blue Setup button as shown.
On the SMA Setup screen, search and then select the SMA manager by selecting the checkbox to the right of the SMA manager name, then select Next.
📌Note
It is possible to select multiple SMA managers.
Select a platform to invest the SMA in. Select Next to proceed.
The available SMAs of the SMA managers selected will show in the final Set ICR screen. Each SMA will show the platforms selected in the previous step. Enter the ICR fees for each in the provided fields as a percentage amount, select Save.
📌Note
ICRs can be edited manually.
Applying SMA in Strategies
The SMA options of the manager selected will now show under Model Portfolio/SMA drop-down within Digital Advice Scenarios. Select the SMA option from the drop down.
Once selected, an editable window will open to show the SMA, the platform, and the ICR set up previously. If the ICR is not set, it will appear as 0 and is editable on this screen. Select Save.
The ICR will flow into the SOA.
📌Note
The SMA managers and platforms appear alphabetically except for Morningstar SMAs, which will appear at the top by default.
Currently, there are 90 SMAs available.