METLIFE’S WEALTH MANAGEMENT SERVICES PLATFORM REACHES $6 BILLION IN ASSETS UNDER MANAGEMENT
- Six Years After Its Inception, One Year After Launch of Second Generation MetLife Broker-Dealer’s Cornerstone Wealth Advisory Platform Crosses a Milestone –
NEW YORK, JUNE 8, 2010 – The MetLife Broker-Dealer Group announced today that its comprehensive investment advisory product platform, Wealth Management Services (WMS), has crossed a milestone of $6 billion in assets under management with approximately 30,000 accounts.*
“Last year when we announced the launch of the second generation of WMS, we had $4 billion in assets under management at a time when markets were volatile and the investing public was slowly recovering from economic shock,” states John J. Brett, senior vice president, MetLife. “A year later, we have nearly $6 billion 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 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.”
Launched in 2004, WMS enables advisors to integrate a client’s eligible accounts into a single, consolidated portfolio. Numerous enhancements have been made over its lifetime, the most recent launched as a second generation product platform last year, which now includes a Flexible Unified Managed Account (UMA). WMS is currently available through all Broker-Dealer channels at MetLife which includes MetLife Securities, New England Securities, Tower Square Securities and Walnut Street Securities.
“At the MetLife Broker-Dealer Group, we understand that relationships with clients are of the utmost importance to our advisors. Therefore the innovative investment advisory platforms, products and solutions we offer such as WMS, help foster and facilitate those relationships while streamlining the day-to-day operations of our advisors’ businesses. It is this commitment to the client and to the advisor that distinguishes us in the marketplace,” states Jeffrey Wilk, vice president, Broker-Dealer Investment and Advisory Product Management.