INFLUENCE HOW YOUR MONEY IS MANAGED

Want to take an active financial role but seek the comfort of professional guidance? Want the flexibility to diversify strategies while retaining liquidity and potential tax benefits? Separately Managed Accounts (also known as SMAs) offer active management to match your investment style.

SMAs defined

An SMA is a single investment account comprised of individual stocks, bonds, cash or other securities, tailored to achieve specific investment objectives. Your portfolio manager oversees the investments according to your specific investment objectives.

Put simply, an SMA is for investors who ...
 

Seek the comfort of professional investment guidance and a heightened level of personal service

Still want to take an active role
in their financial life

Desire the flexibility to invest in different strategies or styles, while seeking the liquidity and potential tax benefits that come from owning individual securities in separate accounts, versus mutual funds

 

Are SMAs right for you?

If you answer yes to the following questions, then an SMA may be suitable for you.

  • Do I have accounts I would like to consolidate?
  • Would I like more influence over my investments?
  • Would I like a potentially closer relationship with my money manager?
     

The ultimate in account flexibility: Unified Managed Accounts

Over the last several years, a new account structure, the Unified Managed Account (also referred to as a UMA), has been growing in popularity with investors who want the ability to view all types of investments in one place.

A UMA offers SMA benefits while giving you a comprehensive picture of your mutual fund holdings and securities ownership in a single account – holding mutual funds, ETFs, individual securities and alternative investments – even Separately Managed Accounts. Besides providing a holistic view, UMAs can streamline paperwork by eliminating multiple registrations, simplifying fees, and allowing for even more sophisticated tax management.

As a UMA investor, you will select from an array of asset allocation models, based on your risk tolerance and investment goals. The portfolio manager will take care of rebalancing or even changing asset allocations altogether, depending on the degree of discretion inherent in your particular program.
 

Talk to a pro to know

A financial advisor can explain the features and benefits of SMAs and UMAs, compare and contrast them, and help you decide which is best for you.

Help yourself to our resources. Our expertise is yours for the taking.

 



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Investor Education: SMA - A Guide to Separately Managed Accounts

A guide to understanding Separately Managed Accounts (SMAs). Includes how the accounts work, who can benefit from them, and the difference between an SMA and a mutual fund.

All investments involve risk, including loss of principal. Past performance is no guarantee of future results. Please see each product’s webpage for specific details regarding investment objective, risks associated with hedge funds, alternative investments and other risks, performance and other important information. Review this information carefully before you make any investment decision.

Separately Managed Accounts (SMAs) are investment services provided by Legg Mason Private Portfolio Group, LLC (LMPPG), a federally registered investment advisor. Client portfolios are managed based on investment instructions or advice provided by one or more of the following Legg Mason-affiliated sub-advisers: ClearBridge Investments, LLC and Western Asset Management Company. Management is implemented by LMPPG, the designated sub-advisor or, in the case of certain programs, the program sponsor or its designee.