IMAP to conduct MDA census
The Institute of Managed Account Professionals (IMAP) has announced it will carry out a new study of the funds under management (FUM) invested through managed accounts for 2016.
The new study follows the last study as at 30 June 2016, which found that over $31 billion was managed through this route.
IMAP chair, Toby Potter said the next FUM census would be as at 31 December 2016, with the institute planning to undertake the study twice yearly.
"I am confident that we will see, even in this six monthly period, a significant increase in the assets held in managed account services," Potter said.
"The current level of FUM and the growth, if it eventuates, will prove how significant this service is for the advice profession."
The previous study showed managed accounts were offered in various ways: approximately one-third was through managed discretionary accounts, about one-third was through separately managed accounts (SMAs)/managed investment schemes, and the remaining in various other legal structures such as investor directed portfolio services or similar.
"Recent product launches have been principally in the SMA style so it will be interesting to see how the relative usage has evolved," Potter said.
While the last study covered institutions and companies that offered managed account services to independent financial advisers (IFAs), the current study would extend to the 190 licensees whose Australian financial services licences (AFSLs) allowed them to be a managed discretionary account provider.
The study would be completed through February and would be released in March.
IMAP announced it was also establishing an MDA Providers Forum to allow these organisations to have a platform to discuss matters such as regulation, professional indemnity insurance, investment management, and development of adviser expertise.
IMAP will release invitations to participate in February.
AUTHOR
Malavika Santhebennur
Recommended for you
Bell Financial Group co-chief executive, Arnie Selvarajah, believes regulation will make the provision of episodic advice easier for consumers and is pivoting the business over the next two years to focus on wealth management.
Statutory NPAT at Pacific Current has almost halved in FY25 to $58.2 million as the result of an investment restructure.
Being able to provide certainty about redemptions is worth fund managers pursuing when targeting the retail market even if it means sacrificing returns, according to Federation Asset Management.
Regal chief investment officer Philip King will step down from listed investment company VGI Partners Global Investments after the LIC reported a loss of $17.6 million for FY25.
