The Basics on SMAs

  1. What is an SMA?

    Separately Managed Accounts (SMAs) are investment strategies where you own the individual stocks or bonds directly and can customize the securities in your portfolio. SMAs are not a one-size-fits-all solution like mutual funds or exchange-traded funds (ETFs), which offer partial ownership in a pooled investment vehicle designed to fit a broader investor group.

  2. Who Should Consider an SMA?

    SMAs are best suited for high-income earners, or individuals that have substantial investable assets, looking for a professionally managed portfolio that offers personalization, transparency and tax advantages.

  3. What are the Advantages of SMAs?

    Separately managed accounts provide investors with several key advantages. Customization allows SMAs to align with individual risk profiles and goals while direct security ownership ensures transparency and allows for the added benefit of tax-loss harvesting. Additionally, SMAs are often available for lower fees than mutual funds. SMAs suit investors seeking personalized, long-term investment solutions for effective wealth management.


AB: A Long History of Investing

AB SMAs are guided by teams of experienced portfolio managers, analysts and traders with access to in-depth research and advanced technologies.

50+ Years

of experience and expertise

$692 Billion

Firm Assets Under Management

70 Thousand+

Retail Separately Managed Accounts

$36 Billion+

Retail Separately Managed Account Assets

As of July 31, 2023. Source: AB


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Frequently Asked Questions




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There is no assurance that a separately managed account will achieve its investment objective. Separately managed accounts are subject to market risk, the market values of securities owned will fluctuate so that your investment, when redeemed, may be worth more or less than its original cost.