Speaking at the IMAP MDA Responsible Manager Masterclass yesterday in Sydney, Toby Potter, IMAP Chair, said that there were 5 key issues that AFSLs need to master in the MDA space.
- There is currently no industry-wide understanding of what an MDA is and the different types of discretionary accounts that are available.
- Dealer groups are struggling to evaluate the potential value of MDA's for their business.
- How to implement into the business? Going through the stress of change management.
- Understanding the compliance issues - What are the advice requirements? What are the risk and compliance issues that need to be considered?
- Client communication – what do I say to my clients?
IMAP is developing a series of Masterclasses to help address these issues.
The following Masterclasses are currently available
"Establishing a Managed Account Program in Your Advisory Business"
"MDA Responsible Manager"
If you are interested in finding out more about the masterclasses please contact Angela: angela.willett@imap.asn.au
Coming soon to IMAP...
Over the next 12 months IMAP has scheduled a quarterly series of presentations from top Managed Account professionals including investment managers, researchers and practice consultants.
The IMAP forums, to be held every three months in Melbourne and Sydney, will serve to promote industry dialogue. Times and venues will be confirmed at a later date to subscribers, or keep an eye on the website for further details.
Also top of our agenda for the year ahead is the IMAP-hosted Technology Forum, where subscribers will be able to review the various platforms and technology on offer to Managed Account professionals. Finally, we aim to get our ASIC-compliant Managed Account CPD program up and running in 2011.