Toby Potter

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  • Perspectives - Spring 2017

     


    Chairman's report: Managed accounts approach $50b – What next? Toby Potter says that IMAP has just released its third study into the size of the managed accounts market and he has counted $48 billion in FUM from the survey responders.


    Managed accounts growing over 25%pa Funds under management for managed accounts in Australia now stand at $47.97 billion – an increase of $8.88 billion in the six months from 31 December 2017.


    LMDA advisers face a drop dead date When ASIC released the update in the Class order in September 2016, it gave advisers who had been using the No Action letter, a two year transition period to move to an alternative approach to providing their services to advisers.


    ANZ Wealth adds SMAs to Grow Wrap platform ANZ Wealth has introduced Separately Managed Accounts as part of its Grow Wrap investment platform, which it says will provide greater flexibility for investors. 


    Technology struggles to keep up with planner needs Financial planners’ needs are evolving, but technology providers are struggling to keep pace. This was one of the key findings to come out of the Investment Trends 2017 Planner Technology Report, now in its 14th year.


    Aladdin powering risk management Speaking at the August IMAP Dealer Investment Forum, Josh Persky (BlackRock) provided an informative presentation on risk management and how BlackRock uses its risk analytics tools in monitoring and managing multiple risk parameters within its Australian managed account model portfolios.


    PI insurers: Putting your best foot forward IMAP’s MDA Forum in August provided managed account professionals with interesting insights from a lawyer and insurer in relation to professional indemnity (PI) insurance for MDA providers working in the managed accounts sector.


    The key lessons learnt Perspectives asks two industry professionals Chris Willaton and Stephen Romic some intriguing questions...


    Maximising the managed account opportunity Sherise Mercer shares her insights on how to build managed accounts into a financial advisory business.


    MDAs: The right DNA Managed accounts are part of the DNA of Lighthouse Capital. Julia Schortinghuis talks to Jayson Forrest about the efficiencies and time-savings that managed accounts have brought to the business.


    Through the managed accounts lens - Managed accounts: $60b by 2020 In officially opening IMAP’s Portfolio Management conference on 24 July, IMAP chair Toby Potter said the theme of the conference – Through the Managed Accounts Lens – was chosen to reflect the rapid growth and interest in managed accounts by the financial services sector.


    Through the managed accounts lens - Listed investment choices: Transforming managed account investing Advancements in technology has been a “great enabler” for listed investment products, effectively making the ASX an ideal platform for advice solutions.


    Through the managed accounts lens - Meeting retirement income objectives With global populations ageing rapidly, and with one-in-four Aussies estimated to be over the age of 65 by 2050, there are tremendous opportunities for managed accounts to meet the specific retirement income needs of retirees in the years ahead.


    Learning the hard way Paul Saliba and Justin McLaughlin share their insights with Laird Abernethy on the investment lessons learnt in establishing and running managed accounts in a business.


    Goals-based advice and managed accounts Gareth Jakeman and Thomas Bignill talk to Rebecca Jacques about how to make goals-based advice work with managed accounts.


    Transitioning from model portfolios to an SMA Over the past few years, we have seen a material increase in the interest and take up of managed accounts, such as separately managed accounts (SMAs), by dealer groups and financial advisers.


     

  • Perspectives - Summer 2017



    2 approaches to technology – 2 business models Toby Potter says that one of the key drivers of the development of managed accounts is the availability of the technology that makes it possible to manage hundreds of portfolios based on predetermined portfolios.


    Working group established to develop data standards IMAP has announced the establishment of an ‘industry working group’ to develop data standards for the exchange of managed account model data.


    14 hours per week saved using Managed Accounts Advisers using managed accounts are saving on average, 14.4 hours per week in administration and compliance work, according to new research by BT.


    Aussie fintech adoption 5th in world Australia’s fintech adoption rate is ranked fifth in the world, with an adoption rating of 37 per cent – up 24 per cent from two years ago. This puts Australia behind China (69%), India (52%), U.K. (42%) and Brazil (40%)…


    Demand for advice high as client numbers fall While the demand for advice from financial planners is at a record high, the number of Australians using them has dropped by 25 per cent to 2.2 million active clients in just 10 years – down from three million in 2007.


    Client engagement remains key With over 10 years’ experience in implementing asset class models and multi-sector portfolios on behalf of IFAs across multiple managed account platforms, who better to share his insights on the important considerations for any business transitioning across to a managed account business model than DFS Portfolio Solutions principal, Stephen Romic.


    Birth of the hybrid investor As the new age of investing emerges, advisers are forced to embrace ‘disruption’ and move towards digitalisation. It’s time to meet the more engaged consumer; the ‘hybrid’ investor, says Arnie Selvarajah.


    A different perspective When it comes to rolling out a managed accounts offering, Phil Smith wishes he had done it years ago. Jayson Forrest talks to him about the challenges involved.


    Choosing a Managed Account: What you need to know Toby Potter and Angela Ashton explain the four elements that make up a managed account and the importance of understanding how each element interlocks with the others.


    Managed Portfolios: A sound investment in your clients and your business Hub24 considers the growing trend of managed portfolios overseas and the significant benefit they offer clients, advisers and practice staff.


    What open platforms mean for the future of advice John Kim shares his views on how tomorrow’s platforms will further evolve the role of financial advisers and portfolio management. Since they entered the market more than 17 years ago, platforms have evolved considerably.


    The power of connecting Martin Morris discusses the importance of keeping your business healthy and keeping your clients engaged in today’s digital world. Technological innovation is driving change across all businesses globally, specifically in how a business deals with its customers.


    The future of managed accounts Over the past 10 years, the managed accounts sector has established itself as a major participant in the Australian financial services industry. As Matt Heine writes, the next five years will see this sector come of age, where new entrants, new technologies and new consumer habits will shape and evolve managed accounts to be mainstream in financial service practices.


    Amazon: May the best prepared win Andrew Stanley (Ralton Asset Management) says that Amazon’s planned entry into the Australian market has generated intense speculation about the outlook for incumbent players.


     

  • Perspectives - Winter 2017

     


    What is a managed account, really? Toby Potter: IMAP's mission, on behalf of the managed account profession, is: Information, Education and Representation of Managed Account Professionals.


    IMAP highlights ASIC Levy funding error for MDA The Government has released its draft regulations of the industry funding model for ASIC with IMAP playing a significant role in reducing the levy that would apply to MDA providers. 


    CFS unveils new managed accounts solution across platforms As part of a tailored solution aimed at licensees and independent financial advisers, Colonial First State has launched a new managed account offering across its FirstWrap and FirstChoice platforms.


    Managed account FUM up 27% Funds under management in managed accounts now stand at $39.2 billion - a 27 per cent increase in the six months to 31 December 2016.


    Client portal key battleground for platforms Platform provider netwealth has maintained its number one position in terms of overall performance functionality, followed by HUB24, Colonial First State FirstWrap, Asgard eWRAP and Macquarie Wrap.


    Industry seeks clarification of 1 October changes Following ASIC's revision of the Managed Discretionary Account regulatory framework - ASIC Corporations Instrument 2016/968 and a revised RG 179, further clarifications of these changes have emerged.


    To IPO or not: Valuing a business Just how do you go about establishing your wealth management business to be seen by others as a premium business in terms of value, particularly when listing on the ASX? Vaughan Webber answers this question. 


    Managed Accounts: the path less travelled Perspectives asks Thomas Bignill (Mason Stevens), Patricia Chan (DFS Advisory Services), Patrick Nalty (Paradigm), and Matt Lawler (OneVue) what they think are the three things that will drive the growth of managed accounts? 


    Get ready for the revised MDA services regime Following a three and a half year consultation, the revised regulatory regime for MDA service providers was finally announced in late September 2016. Despite the fears of the MDA community, the sky did not fall in!


    Crystal clear Crystal Wealth Partners may only have been around for five years, but with over 80 years of collective experience amongst its senior team, its an advisory business with an impressive track record. Jayson Forrest talks to John McIlroy.


    3 options for LMDA arrangements Advisers currently using Limited MDA arrangements and reviewing their investment management and portfolio administration options need to think carefully about the type of business they’re likely to be running in the future.


    Operational Due Diligence 3.0 Operational due diligence (ODD) is a challenging undertaking for any business, including the obligations on dealer group portfolio managers. Christopher Addy examines the five-stage process that can enhance the ODD process within a business.


    Cranes, trains and property yields Charles Stodart (Zurich Investment) says that investors in Australia property have long been enamoured with the residential market, but away from the fanfare and the media focus...


    Fundamental indexing: Fitting it into an investment portfolio David Bassanese (BetaShares) says that it's perhaps no surprise that investors are being increasingly drawn to the benefits of low-cost index investing. 

     

     

  • The State of Managed Accounts – Now a $111bn market - 7 factors that are driving growth

    Managed accounts are an important growing part of the advice profession and IMAP’s 2021 Census of the managed account market shows a total FUM as at 30 June 2021 of $111bn, exceeding $100bn for the first time.  Toby Potter IMAP CHair explaiins 7 factors that are driving growth

     

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