Toby Potter was keen to acknowledge her contribution saying, “Tracy has done a tremendous job in establishing IMAP to represent the Managed Accounts industry, its product providers and investment managers.”
Besides Potter and Byrne the other board members are Adam Dawes (Shaw Stockbroking), Cormac Heffernan (MLC), Damian Holland (Ralton Asset Management) and Peter Rowley (Powerwrap).On the Managed Accounts industry Potter noted that “There have been no Westpoints, Great Southerns or Storms among the Managed Accounts providers. The Global Financial Crisis has proved the strength of the Managed Accounts industry.”
“The next 12 months will see a number of new services come to the market. Also more managers will be offering their investment expertise to Managed Account clients; the level of choice is only going to increase,” says Potter. “Now more than ever, there is a role for an active Managed Accounts voice and IMAP will fill that role.“
IMAP plans a series of bi-monthly meetings in Sydney and Melbourne to provide a forum for industry discussion and is sponsoring the annual Rainmaker Managed Accounts conference in February 2010. The new meeting program will focus on making Managed Accounts easier to use for advisers and will include speakers from specialist investment managers, the research industry and practice consultants.
IMAP will also be releasing tailored Managed Account CPD for advisers to meet ASIC's requirements.