Switching the managed accounts tap on

Managed accounts present a clear value proposition for most advice practices, with the agility of its operations meaning trades can happen across the board and in an instant. So what’s it like for a firm going from wrap platforms to managed account platforms? What are the challenges, dangers and opportunities? Also, what's the product landscape like, how do the big producers like Blackrock put model portfolios together and to what level does consultancy with advisers come into play?