Answering the question –“Do Managed Accounts Work?”
Latest Regulatory Environment View
A cornerstone of consumer protection in financial services regulation is the Best Interest Duty outlined in the Corporations Act 2001 (Cth) and introduced under the Future of Financial Advice (FoFA) reforms in 2013.
ASIC in their 2025-26 Corporate Plan stated that a review of managed accounts would focus on three areas
- governance frameworks
- management of conflicts and
- outcomes for consumers.
There is little data available that proves if - or how - managed accounts deliver better outcomes for investors.
Proving the case for better client outcomes is critical to satisfying the Best Interest Duty.
To address this, IMAP is sponsoring a Research Study with the University of Sydney (USyd) to assess the difference in client outcomes between professionally structured managed account portfolios compared to reliance on APL’s, SOA’s and ROA’s through individual advice.
Anonymous, Industry First
This is an important, anonymous study, and an industry first.
It specifically addresses how to quantify the improved outcomes for investors.
It is expected to qualify for part funding by the Australian Research Council as well as IMAP sponsored industry participation.
IMAP’s objective is to support managed account growth, drive adviser adoption and uplift client investment experiences by validating the better outcomes clients receive from an advised structured portfolio management service or managed accounts.
A benefit to advisers participating in the project is that they will receive the full research for their clients, which is expected to deliver "fact based validation", and evidence that their recommendations are likely to lead to better outcomes for clients.
The total project duration is planned to be 4 - 6 weeks and it's designed to be "light-touch" in terms of time commitments for advice participants.
IMAP and our technology partner do the work, liaising with your preferred internal adviser contact.
Your Chance to Participate and Have Your Say
IMAP is inviting all advisers to participate in this important study.
If you would like more information or to nominate your preferred adviser and their contaact details,
please contact Toby Potter (IMAP Chair) on 0414 443 236 or email toby.potter@imap.asn.au