Manulife Wealth Launches UMA Program for Streamlined Investing

Manulife Wealth Inc., part of Manulife Wealth & Asset Management, has rolled out the Apex Unified Managed Account (UMA) Program. This fee-based, managed account solution aims to streamline investment advisors’ practices through a model-based approach, enabling personalized client portfolios under a single fee structure. It consolidates multiple investment vehicles—such as separately managed accounts (SMAs), ETFs, mutual funds, and curated model portfolios—into one account, providing a single investment return and comprehensive reporting.

Richard McIntyre, president and CEO of Manulife Wealth, underscored the program’s impact. “Our goal is to free up time for investment advisors to focus on client relationships and financial planning.”

Advisors can create custom UMA models or choose from Manulife Wealth’s expanding selection, including Strategic Model portfolios. The Manulife Wealth Investment Office reviews and approves allocations. The program saves advisors hundreds of hours annually by outsourcing trading, rebalancing, cash management, and fee collection to Manulife’s head office-based portfolio managers.

Powered by Envestnet’s wealth platform, it offers robust client reporting, workflow management, and model analytics to enhance portfolio construction and management. Citing a 2024 Envestnet study, Manulife notes that 39% of advisors’ time is typically spent on investment management and administrative tasks, which the Apex UMA Program significantly reduces.

The Apex UMA Program builds on Manulife’s prior technological advancements, such as the 2023 enhancements to its advisor platform via Envestnet’s Unified Managed Platform. The program is part of a broader suite of services offered globally to 19 million clients.