Allspring unveils SMA platform enhancements

The North Carolina-based global asset manager is strengthening its custom SMA platform with new active and index strategies.

Allspring Global Investments has announced significant enhancements to its custom separately managed account platform.

The global asset manager announced Thursday that advisors and end-clients using its SMA platform, REMI, can now access the firm’s actively managed core-plus fixed income strategy, CoreBuilder Core Plus in an SMA wrapper.

“These latest innovations represent a big step in creating a truly comprehensive solution,” said Manju Boraiah, co-head of custom SMA investments, said in a statement.

“The addition of CoreBuilder Core Plus, together with our existing active CoreBuilder Municipal Income strategy offering, means we’re delivering active management across the spectrum in a major asset class that arguably benefits most from it—fixed income,” Boraiah said.

On the direct indexing front, Allspring revealed it had added an international EAFE index to its platform, giving users an added opportunity for global diversification. The firm also introduced the ability to blend equity indexes on the REMI platform, creating additional flexibility.

“These new enhancements represent our commitment to the needs of financial advisors and our desire to be a leader in solving their most complex client challenges,” said Katie D’Angelo, head of global relationship management.

Advisor adoption of Remi and Allspring’s suite of customized SMA products has been growing. Assets on the platform surpassed $3.1 billion by the end of the first quarter, driven by net inflows of $245 million. Additionally, Allspring reported a 146 percent increase in Remi users in the first quarter of 2024 compared to the same period the previous year.

With more than $66 billion in assets, Allspring Global Investments is currently the 11th-largest SMA provider in the United States.

“If our tax-managed and customized solutions can help advisors meet the needs of their wealthiest clients, we can help them grow,” D’Angelo said.

Headquartered in Charlotte, North Carolina, Allspring Global Investments was the asset management division of Wells Fargo until 2021, when it was snapped up for a hefty $2.1 billion by private equity firms GTCR and Reverence Capital Partners.