Managed Accounts - Important Update for MDA Operators

MDA services are operated under a specific Class Order (CO 04/194) originally issued in 2004. Using this Class Order nearly 200 AFSLs are authorised to provide MDA services. 

Because Class Orders have a limited life the MDA Class Order is due to "sunset" or expire in October 2016 and a recent parliamentary release confirmed this sunsetting. 

In the absence of ASIC action to extend or replace the Class Order all services operated under it would not longer have the protection it provides from meeting the requirements of the Corporations Act, such as an exemption from issuing a PDS. 

This would obviously create a major problem for MDA Operators. 

ASIC undertook a round of consultation in 2013 with a view to updating it in light of the way it is being applied in practice. 

In light of the imminent expiry of the Class Order, ASIC have advised that they expect to issue a new Class Order and updated Regulatory Guide in late July or early August. 


Toby Potter


Institute of Managed Account Professionals

0414 443 236

IMAP Onevue webinar featuring Darlene DeRemer

"Robo advice + Disruption + block chain strategies and other disruption trends" 

US based Darlene DeRemer is well respected as commentator on influences and trends affecting financial services sector. More so, she’s on the board of ARK Investments which invests in disruptive technologies. She was a co-founder of Grail partners in 2005. Grail has worked on over 250 strategic transactions involving asset management businesses.

Aside from advising companies, she had 25 years working US financial services industry strategic marketing, product design and implementation of innovative service strategies with emphasis on outsourcing and technology stop

Click here to download the presentation (Part 1) and here for Part 2.


if you would like to view the webinar click on the following link

And if you would like to download any of ARK Investment's white papers, click on the following link


IMAP launches the Managed Accounts Directory

The Institute of Managed Account Professionals (IMAP) today announced the launch of the Managed Accounts Directory.

"The Directory has two main purposes" said Toby Potter, Chair of IMAP. "Firstly, it will be a complete listing of the organisations which provide Managed Accounts, such as platforms and investment managers, or services related to Managed Accounts such as technology, legal, research or compliance services. Secondly, the Directory will enable IMAP to publish regular, reliable data on the size and composition of Managed Accounts."

The Managed Account Directory has been developed with support from Hub 24 as Directory Sponsor.

"A standard listing in the Directory will be available to all organisations but for IMAP Subscribers a full listing will enable them to set out full details of their services and contact details."

"The Directory will capture a full list of Managed Account portfolios and the administrative platforms that they are available through. This will enable IMAP to publish regular releases on the size and composition of Managed Accounts. We are often asked how large the market is and I think many were surprised when our survey in February  this year showed it as a $13bn market. We plan the first release in March 2016 and quarterly thereafter" said Mr Potter.

"We are pleased to support the development of the Managed Accounts Directory" said Wes Gillett, Head of Marketing and Distribution Hub 24, "There has been a real need for reliable industry statistics for some time and we are pleased to see IMAP meeting this need. We will be supporting this and encouraging the managers listed on our platform to be involved also.


Toby Potter, Chair, 0414 443 236 This email address is being protected from spambots. You need JavaScript enabled to view it.

Jane McIlroy, National Marketing and Events Manager 0411420180 This email address is being protected from spambots. You need JavaScript enabled to view it.     


Chris Hocking 0418 603 694 This email address is being protected from spambots. You need JavaScript enabled to view it.  

 Click here to view the Directory.

IMAP IOOF Adviser webinar - MDAs v MIS webinar

Click here to hear Claire Wivell Plater from The Fold present on the differences between MDAs and MIS. This webinar was recorded at a webinar sponsored by OneVue and was offered tohelp advisers make sense of the Managed Account options offered in the market today.


IMAP announces Managed Accounts now exceed $13Bn

IMAP recenty surveyed the principal managed account providers to collate data on their service including FUM in Managed Accounts and today announced that the total held in Managed Account services now exceed $13bn.

"As part of the material for the Dealer Roundtable we held this week, IMAP asked the principal Managed Accounts providers to provide essential details about their service including the FUM held in managed account services.

“This is the first time that I am aware of where anyone has provided a robust total for Managed Account FUM" said Toby Potter, Chair of IMAP.

Click here for a copy of IMAPs press release or email This email address is being protected from spambots. You need JavaScript enabled to view it. to request a copy

To view PDF articles from media outlets click on Financial Observer or Financial Standard

Less Jargon - Demystifying Managed Accounts

Professional Planner magazine quotes Tony McDonald as saying many Advisers been put off even considering a managed account offering simply because it is unclear what a managed account actually is, let alone the demands an offering may place on a practice’s existing resources and structure. But he says answering six key questions “when you are thinking about going into, or changing, a managed account offering” can make the situation much clearer.

IMAP is staging a workshop in Sydney on April 8, and a webinar for people unable to attend in person, aimed at demystifying managed accounts and examining how, if done the right way, the service can add value to a financial planning business and produce better investment results for clients. Professional Planner is the official media partner of the workshop and webinar. The workshop is sponsored by IOOF.

Click on the link to view this article and register

Managed Accounts Directory on the Horizon

Catch what Toby has to say about the launch of IMAPs Managed Account Directory in the 18 Feb edition of Financial Observer. Amongst other things, another aim of the directory was to gain a closer assessment of how much the sector in Australia was worth, something platforms, managed account providers and investment managers would play a key part in....

Read more by following the link:

A buyers guide to Managed Accounts

Toby Potter explains a buyers guide to Managed Accounts in the January 27 edition of Professional Planner.  Follow the link here to read more




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