Wealth Management Invest: Digging Into SMAs And Direct Indexing With Columbia Threadneedle’s Daniel Milligan Wealth Management Invest podcast

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Wealth Management Invest: Digging into SMAs and Direct Indexing with Columbia Threadneedle’s Daniel Milligan

8d ago 25:57

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In this episode of Wealth Management Invest, host David Bodamer speaks with Daniel M. Milligan, vice president of separately managed accounts at Columbia Threadneedle Investments, to examine how advisors are using SMAs and direct indexing when building client portfolios.

Daniel outlines how technology has increased access to SMAs, why tax-aware personalization is gaining traction, and how direct indexing creates flexibility for investors seeking tailored equity exposures. He also walks through the role municipal bond SMAs can play in taxable accounts and highlights how advisors can use these tools.

Key takeaways:

How technology has allowed SMAs to move downmarket with lower minimum investments
Tax and transparency benefits that distinguish SMAs from mutual funds and ETFs
How direct indexing pairs index-like exposure with systematic tax management and client-level customization
Using SMAs and direct indexing to address concentrated stock positions while managing tax consequences over time
Limits of customization, advisor education needs, and why SMAs are increasingly central to holistic planning

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About Our Guest:

Dan Milligan is Vice President of Separately Managed Accounts at Columbia Threadneedle Investments, based in Boston, MA. He has been at the firm for almost 19 years. He holds a bachelor’s degree in economics from Boston College and an MBA from Boston College Carroll School of Management. He is a CFA Charterholder.

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