Conventional, trail and commission - based remuneration, supported by conventional advice is not going to be sustainable. Only organisations that are clear about how they add value and communicate that to clients will emerge at the end of 2012.
This year IMAP will be coordinating a stand “Managed Accounts Central” at the FPA Conference in November. Managed Accounts Central is typical of IMAP’s activities. It brings together four leading Managed Accounts companies (Linear Asset Management, OneVue, Mason Stevens and Multiport) to provide Managed Account education and to discuss what Managed Accounts can offer advisers in a post FoFA world. While each sponsor will promote their own services independently, IMAP provides an opportunity to cooperate in promoting the development of the next wave for providing FoFA-ready advisory services.
IMAP goes on the record with OneVue - Australia's first UMA provider
The managed account marketplace in the United States is worth around US$2.1 trillion and is growing by around 14 per cent per year, with the Canadian market growing by a similarly rapid pace. A segment of the managed account market that has been growing particularly quickly, with more than $125 billion in assets at present, is unified managed accounts (UMAs). In light of this, IMAP talks to Australia's first UMA provider, OneVue, to find out from head of UMA strategy Brett Marsh how this style of platform is gaining traction locally.
Click to read more...UBS Changes in Market Structure
There are currently a number of changes occurring in Australia’s 1.2 trillion dollar Equities markets. The key catalyst of those changes is the entry of Chi-X who will operate an equities exchange providing competition for the first time to the ASX. The introduction of competition has resulted in a substantial amount of new regulation to govern equities trading in the new ‘multi-market’ environment. Previously unfamiliar concepts like ‘best execution’, ‘smart order routers’ and ‘liquidity pools’ have entered the vocabulary.
So what does all this mean for investment platform operators and what should they do in response to these changes?
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