Model Delivery Fee
Covers:
Implementation
Ongoing management via SMArtX
Excludes:
Advisor fees
Custodian costs
External manager fees
Holdings Visibility Rules
Stage | Visibility |
Before investing | Top 5 holdings |
After investing | Full holdings |
Model Comparison vs Help Me Find Models
These are effectively the same function:
Compare holdings
Identify overlap
Support transitions
UMA vs SMA Programs
UMA (Model Delivery via SMArtX)
Fully integrated
Supports:
Rebalancing
Customization
Platform tools
SMA (Manager-Traded)
Manager trades directly
Limited platform control
Differences include:
Custodian setup
Reduced functionality
When to Use Each
Scenario | Best Fit |
Standard model implementation | UMA |
Custom manager relationship | SMA |
Final Advisor Takeaway
Understanding these concepts ensures:
Accurate client communication
Proper expectation setting
Efficient portfolio implementation