Manning & Napier Advisors is an investment manager providing wealth management and financial planning advice to individuals, institutions and other types of clients. Located in Fairport, New York, a suburb of Rochester, Manning & Napier Advisors ranks among SmartAsset's top financial advisors in New York State.
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. In 2021, the firm had the second-highest five-year ranking, trailing only Fidelity.
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
- Trusts
- Estates
- Endowments
- Foundations
- Corporations
- State and municipal government entities
Minimum account sizes vary, based on the investment strategy. These minimums generally range from $100,000 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. The firm manages portfolios through separately managed accounts, proprietary mutual funds, collective investment trusts, private funds and interval funds.
In addition to portfolio management, Manning & Napier provides wealth planning services like retirement, tax and estate planning; endowment and foundation consulting; qualified plan design; pension consulting; and participant education through its Worksite Personal Financial Advisor program. The firm also and provides transition management services to help manage the tax impact of moving externally held assets into MNA-managed portfolios.
Manning & Napier Advisors Investment Philosophy
The firm designs portfolios by 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.
The firm evaluates and selects equity investments using both bottom-up and top-down analysis. While the former examines the financial health and fundamentals of individual companies or securities, the latter starts by considering broad economic factors like interest rates and market cycles.
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 1.25%. 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 a financial advisor. This way you'll have more context about fees and investment strategies to make an informed decision. Finding a financial advisor doesn't have to be hard. SmartAsset's free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, 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.
