St. Augustine, FL Office

Manning & Napier Advisors, LLC provides investment advisory services primarily to pooled vehicles and institutional clients — including banking or thrift institutions, investment companies, pension and profit‑sharing plans, and state or municipal government entities — while also managing discretionary separately managed accounts and offering non‑discretionary advice to its proprietary Manning & Napier Fund, collective investment trusts, private funds and an interval fund. The firm also offers retirement plan services (including 3(21) fiduciary advice), participant education, transition management, and custom wealth management solutions for clients that require those services.

MNA’s investment process is team‑based and strategy‑specific, overseen by an Investment Policy Group that sets asset allocation guidelines; portfolio construction generally combines top‑down macro analysis with bottom‑up security selection, and includes systematic approaches such as its Disciplined Value strategy and top‑down Managed ETF Portfolios (MEP), plus a defined Fixed Income Group process. For certain Callodine‑sponsored private and interval funds, affiliates — rather than MNA — make investment decisions, and MNA serves in advisory, sub‑advisory, or placement roles as described in the brochure.

Several structural features distinguish MNA from many peers: it is affiliated with an in‑house trust company (Exeter Trust Company) that provides custody and trustee services and with a limited‑purpose broker‑dealer that distributes its funds and acts as a placement agent, and it operates under an ownership group (Callodine) that sponsors private funds and an interval fund. The brochure also discloses that MNA has claimed an exclusion from the Commodity Pool Operator definition for certain vehicles and that the firm uses third‑party promoter and referral arrangements (including Schwab Advisor Network and paid promotors) and client education offerings — arrangements that shape how products are distributed and require the disclosures and oversight noted in the filing.