Financial services firm relaunches as managed account specialist with $20bn target

Financial services firm Akambo has rebranded itself as an investment management and asset consulting business after almost two decades of operation to focus on the managed account sector.

Established in 2007, Akambo was co-founded in Melbourne by Anthony Kapetanovic and Bernard O’Connor, now the executive chairman and investment manager respectively, but has now relaunched under the same name, utilising its experience in the advice industry to deliver on the needs of advisers.

With this change, the firm has opened its institutional-grade managed account solutions to financial advisers outside its network for the first time in its history. 

At this time, Akambo has $5 billion in funds under management (FUM) but expects this to grow to $20 billion over the next three years as the firm “sharpens its focus on investment management and asset consulting”.

Speaking on the announcement, Kapetanovic explained that Akambo’s managed accounts are fully customisable in order to allow advice firms to create an offering that aligns with their investment philosophy, client demographics, and preferred platforms.

“Our managed accounts are built to scale with advice firms and integrate seamlessly with preferred platforms. We’re removing operational roadblocks and giving advisers more time to focus on clients,” Kapetanovic said.

“We work shoulder-to-shoulder with advice firms to ensure our solutions genuinely integrate and deliver results.” 
Pointing to their previous operations, Akambo managing director Joe Akiki said the firm’s deep advice industry knowledge gives them an “edge”, allowing them to call on their understanding of the practical challenges advisers face and embed this into their offerings.

“Our mission has always been simple: to help advice firms scale with confidence, deliver greater value to their clients, and create businesses that are sustainable for the long term,” Akiki said.

“The advice profession is evolving rapidly. Firms are under pressure to do more with less, and they’re looking for practical solutions that deliver measurable outcomes. Our goal is to give advisers the tools and support they need to navigate this new landscape.”

This announcement comes as other providers double down on managed accounts following high adviser demand and solid growth.

Namely, Generation Development Group (GDG) reported a 49 per cent rise in managed account FUM in the 2024–25 financial year results released last week, hitting $29.6 billion.

“The managed account sector represents a long-term growth opportunity with the industry forecast to expand at an annualised growth rate of between 15–17 per cent through to FY2030,” it said in the annual report.

Income Asset Management has also indicated that managed accounts will be a priority for the firm in FY26, announcing in its FY25 results last week that it will launch two management accounts of investment trade assets and syndicated loans this financial year as a result of growing adviser demand.

In its FY25 results, chief executive Jon Lechte said: “This is a complementary extension of what we’re already doing – it doesn’t require additional spend on new hires but will add an additional recurring revenue stream. Our adviser clients have been requesting a managed account solution so we are confident we will get this initiative to scale quickly.”

Meanwhile, a Praemium report found that more than three in five (62 per cent) advisers are now using managed accounts as the profession chases greater efficiencies in order to meet the overwhelming demand for service amid a stagnant adviser population.

Among those using managed accounts, a quarter (25 per cent) said they were able to reclaim more than seven hours a week on portfolio management activities, and some 35 per cent said it was allowing them to take on more clients.

Notably, of those not yet using managed accounts, 63 per cent said they were considering adoption, however, many also raised concerns regarding the perceived loss of control and uncertainty around value of these solutions.