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FiServe UMA dashboard

Fiserv Upgrades UMA

New features include dashboard alerts, flexible reporting views and a single sign-on to all Fiserv tools.

Financial services technology provider Fiserv announced updates to its unified managed account, Unified Wealth Platform, with improvements including a more efficient workflow and an enhanced user experience, the company announced. Features include dashboard alerts, flexible reporting views and a single sign-on to all Fiserv tools. The product has been in development since October.

“Unified managed accounts continue to grow in popularity because of their ability to provide a better experience for the investor and the advisor,” said Cheryl Nash, president of the firm’s Investment Services. “As financial institutions utilize UMAs to support their managed account programs, Fiserv offers the security and scalability advisors need to manage all accounts on a single platform and service investors throughout their lives.”

UMAs have been a fast-growing product lately, according to a report by Cerulli Associates, U.S. Managed Accounts 2017: Convergence and Its Implications. Numbers from just 2 years ago found UMAs were the second-fastest growing product category, only outstripped by exchanged-traded fund advisory programs. Net flows into UMAs reached a record $70.4 billion in 2016, with the programs predicted to continue to experience strong growth as they evolve from product to platform.

Unified Wealth Platform now supports over $1.8 trillion in assets, including all but two of the top 12 broker-dealers and the 10 largest institutional asset managers in the U.S., according to Fiserv.

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