The MetLife Broker-Dealer Group says its investment advisory product platform, Wealth Management Services, has crossed a milestone of USD6bn in assets under management with approximately 30,000 accounts.
Launched in 2004, the platform enables advisers to integrate a client’s eligible accounts into a single, consolidated portfolio.
A second generation product platform was launched last year, which now includes a flexible unified managed account.
Wealth Management Services is currently available through all broker-dealer channels at MetLife which includes MetLife Securities, New England Securities, Tower Square Securities and Walnut Street Securities.
“Last year when we announced the launch of the second generation of WMS, we had USD4bn in assets under management at a time when markets were volatile and the investing public was slowly recovering from economic shock,” says John J. Brett, senior vice president, MetLife.
“A year later, we have nearly USD6bn in assets under management, a true testament to the value this platform brings to our registered representatives. Additionally, the number of WMS accounts has grown an average of 60 per cent per year since the initial launch of WMS – a clear sign that investors have begun shifting toward active management of their investments, and professional guidance and advice when making their decisions.”
MetLife is a provider of insurance, employee benefits and financial services with operations throughout the US and the Latin America, Europe and Asia Pacific regions.