S&P releases SMA guide for advisers
Standard & Poor’s (S&P) Fund Services has released a report to assist financial advisers gain a better understanding of separately managed accounts (SMAs).
SMAs are becoming increasingly popular as their advantages for investors include transparency and control.
They also afford the investor greater ability to forecast cash flows and efficiently manage tax liabilities, said S&P Fund Services analyst Rodney Lay.
The report, entitled ‘Understanding Separately Managed Accounts’, helps advisers understand the various limitations and risks specific to a SMA investment vehicle before they recommend them to a client.
“A defining feature of a SMA is that the underlying investment assets are held beneficially by the investor, as opposed to a traditional managed fund where investors own units in a trust,” Lay said.
The guide can be downloaded at www.fundsinsights.com and (following the links: Fund Ratings & Research - News & Research — Education).
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
