Manning & Napier Advisors is an investment manager with nearly $20 billion in assets under management (AUM). Its team of financial advisors provides wealth management and financial planning advice to individuals, institutions and other types of clients. It operates out of Fairport, New York.
Barron's named Manning & Napier Advisors the No. 1 Fund Family in 2020, ahead of financial heavyweights Guggenheim Investments, Vanguard Group and Fidelity Management and Research.
Manning & Napier Advisors Background
Manning & Napier traces its history back to 1970, when Bill Manning and Bill Napier set up shop. In 1994, Manning helped in a lawsuit that established Financial Industry Regulatory Authority (FINRA) Rule 5320, also called the "Manning Rule." The regulation requires FINRA-registered firms to put clients' interests before their own.
In 2011, the firm became a publicly traded company (ticker symbol: MN) on the New York Stock Exchange.
Manning & Napier Advisors Client Types and Minimum Account Sizes
Manning & Napier works with several client types including:
- Individuals, both high-net-worth and not high-net-worth clients
- Banking and thrift institutions
- Investment companies
- Pension and profit-sharing plans
- 401(k) plans
- State and municipal government entities
Minimum account sizes vary, based on the investment strategy. These minimums generally range from $250,000 to $20 million.
Services Offered by Manning & Napier Advisors
Manning & Napier builds single-asset and multi-asset class portfolios on behalf of its clients. So you can invest in an equity portfolio, a fixed-income portfolio or a diversified one that offers exposure to various asset classes.
Also, the firm’s professionals can offer advice on the following topics:
- Estate and tax planning
- Asset/liability modeling for defined benefit pension plans
- Retirement and health plan design analysis for employers
In addition, the firm offers proprietary mutual funds that include life cycle options. As the investor ages, these lifecycle funds automatically rebalance to invest in less risky securities.
Manning & Napier Advisors Investment Philosophy
The firm designs portfolios in accordance with the client’s risk tolerance, financial goals and tax situation. When choosing securities, the investment team engages in various methods of analysis such as fundamental and technical analysis.
Instead of assigning one advisor to manage a client's portfolio, the firm has strategy-specific management teams who work together to make portfolio decisions. Senior members of the firm's research department comprise an investment policy group that develops the firm's economic and market outlook, establishes asset allocation guidelines and assesses risk/reward profiles for assets used in multi-asset class portfolios.
Fees Under Manning & Napier Advisors
Manning & Napier charges asset-based management fees that vary, depending on the size of the account and the investment strategy utilized. These generally range from 0.15% to 1.00%. But keep in mind that these fees are exclusive of transaction fees, brokerage commissions, operating expenses charged by specific funds and other costs.
What to Watch Out For
Within the past 10 years, Manning & Napier has not undergone any disciplinary events that would be material to an evaluation of the firm’s business practices. For the latest details, you can access the firm's Form ADV on the official website of the Securities & Exchange Commission (SEC).
Manning & Napier is affiliated with other financial institutions and serves as an investment advisor to the Manning & Napier Fund. Potential conflicts of interest may result. But the firm whose co-founder is partly behind the requirement that FINRA-registered firms must put clients' interests first also has the fiduciary duty to put clients' interests before its own.
Tips for Finding the Right Financial Advisor
- Talk to at least three candidates before choosing one. This way you'll have enough context about fees and investment strategies to make an informed decision. If you need help finding three suitable advisors, use our advisor matching tool. It links you with up to three professionals who serve your area based on your individual needs. Get started now.
- Ask advisors how they get paid. Some advisors work on a fee-only basis, which means their compensation solely comes from their clients. Others are fee-based and receive commissions from third-party vendors as well as client fees.
All information was accurate as of the writing of this article.