Exchange traded fund managed portfolios are a growing segment in the separate accounts space, allowing financial advisors to track customized portfolios to meet client needs. As the space grows, competition is heating up.

For example, LPL Financial may be adding fuel to the fee war. At the LPL Focus 2015 conference, the firm announced that it will cut fees from its Model Wealth Portfolios advisor platform in its latest move in the separate accounts space.

“At LPL, we help advisors grow their practices by providing solutions that we believe create value for investors,” LPL President Dan Arnold, said in a press release. “A great example of this is by eliminating selected fees in our centrally-managed platforms in order to lower the cost of accessing quality financial advice for investors and enable financial advisors to provide their services more cost-effectively.”

Strategists including so-called ETF strategists are growing in popularity at platforms like LPL. The Model Wealth Portfolios utilize LPL Financial Research and portfolio strategists including BlackRock, Cougar Global Investments and Quantitative Advantage. The portfolios track a combination of professionally designed strategies through mutual fund and exchange traded products.

With an aging bull market for equities, the threat of rising rates on fixed income allocations and the increased appetite for alternative investing, ETF Strategists should continue to attract attention, especially when the fees for access continue to improve.