OneVue and IMAP educate on managed accounts

OneVue will play a lead role in industry education on the rapidly growing managed accounts sector.

The wholesale superannuation solutions provider today announced it has renewed its sponsorship of the industry’s peak body, the Institute of Managed Account Professionals (IMAP).

OneVue head of platform strategy, sales and service David Storm said: “It’s important for us to work with groups such as IMAP and take a leadership position in the promotion, participation and education of managed accounts.”

According to Storm many advisers have expressed an interest in managed accounts, but are daunted by the range and complexity of products available.

“Many advisers struggle with managed accounts as they don’t have experience with them, but those who do, say more transparency, less admin and accessibility are reasons for use.”

“Managed accounts aren’t just marketed at high-net-worth individuals as they were in the mid-1990s, they now target the average investor,” Storm added.

The managed accounts space is now valued in excess of $15 billion, and considered a significant part of the retail investor market.

IMAP chief executive Toby Potter said he was thrilled to have OneVue’s support as the industry evolves.

Philo produces White Paper on Managed Accounts

Philo Capital Advisers has released the first instalment of a 3 part white paper that seeks to provide much needed industry education on managed accounts.

The paper is targeted at financial services practitioners who are interested in implementing managed accounts within their business but feel they need a more thorough grounding in the topic to equip them to assess the opportunity.

Click here to read Part A of the white paper.

OneVue to acquire Select Asset Management and Select Investment Partners

Key highlights:

• Select Group established in 2002; recorded total revenue in FY2014 of $7.1m and has been profitable in each of the past 5 financial years.

• Attractive financial metrics with the acquisition expected to be accretive on an EBITDA per share basis for FY2015

• Total retail Funds Under Management and Administration increases from $1,940m as at 30 June 2014 to $2,609m and Total Funds Under Supervision rises from $711m to $1,614m

• Transaction is fully funded from existing cash reserves and the issue of OneVue shares

• Brendan Foley, current Chairman and CEO of Select, to be appointed Deputy CEO of OneVue

OneVue Holdings Limited (ASX: OVH) (OneVue) has today agreed to acquire Select Asset Management Limited, trading as Select Fund Services and Select Investment Partners Limited. Completion is expected to occur tomorrow.

SMSFs boost investment platforms

Self managed super fund (SMSF) clients are rapidly turning to specialist admin providers, new figures reveal.
According to the OneVue/Investment Trends 2014 SMSF Accountant Report, an extra 35,000 SMSFs started using a specialist provider in the past 12 months.
“Last year it was estimated that 115,000 SMSF trustees utilised the services of SMSF administrators,” OneVue head of platform strategy, sales and service, David Storm said.
“This year there’s been a 30 percent increase, with SMSFs indicating the key reasons are ease of use, low cost and admin efficiency.”

OneVue’s mFund capabilities expand Allan Gray distribution

OneVue mFund Settlement Service capabilities will be leveraged by a fund services client for the first time.

Allan Gray, an existing OneVue outsourced unit registry client, is expanding its distribution and making the Allan Gray Australia Equity Fund and Allan Gray Australia Opportunity Fund available via mFund.

The Australian Securities Exchange (ASX) launched mFund in May, to make unlisted managed funds more accessible to direct investors.

Both OneVue and Allan Gray are foundation members of mFund.

ASIC ruling will promote development of Managed Accounts - says IMAP

12 August 2014

IMAP believes ASIC ruling will promote development of Managed Accounts.

Will substantially reduce the compliance burden for advisers re MDAs.

The Institute of Managed Account Professionals (IMAP) has welcomed ASIC clarifying its interpretation of the circumstances in which an SMSF trustee can be treated as a wholesale client. The general test which can now apply means that an SMSF trustee is a wholesale client if a certificate is available from a qualifying accountant that the trustee has net assets of $2.5m or income of over $250,000 for two years. 

In their announcement released on 8 August 2014, ASIC states that its “…revised approach means that … if the person providing the advice determines… the trustee is (personally) a wholesale client based on the general test…” then the adviser can treat the SMSF trustee as a wholesale client.

BetaShares Announces Strategic Alliance with Leading US ETF Provider Wisdom Tree

BetaShares to exclusively market the full range of WisdomTree US ETFs in Australia and New Zealand

BetaShares and WisdomTree to explore development of ASX products providing access to WisdomTree investment strategies

SYDNEY, 9 August 2014: BetaShares has today announced a strategic alliance with WisdomTree Investments Inc. (NASDAQ: WETF), a leading exchange-traded product (“ETP”) sponsor and asset manager. Under the terms of the agreement, BetaShares has been granted exclusive rights to market the full range of WisdomTree US listed ETFs in Australia and New Zealand to institutional investors.

In addition, BetaShares and WisdomTree will explore the development of products on the Australian Securities Exchange (“ASX”) with the aim of providing investors in Australia and New Zealand access to some of the innovative investment strategies pioneered by WisdomTree.

Award-Winning Licensee Joins Managed Account Movement

Melbourne-based advisory firm Moran Howlett Financial Planning has become the latest boutique to launch a managed discretionary account (MDA) solution, which will ultimately see it phase out traditional wrap platforms and clunky SMSF administration software.
The firm, which has approximately 350 clients and $160 million in assets under advice, has signed a deal to integrate the MDA solution of following an extensive investigation process which involved four other parties.

OneVue purchases award-winning SMSF business

Wholesale superannuation solutions provider OneVue has purchased the award-winning SMSF administration business formerly owned by Super Managers Australia.

OneVue group chief executive Connie Mckeage said the SMSF administration business, which will remain Melbourne based, will become a subsidiary of OneVue and be rebranded ‘SMSF Managers’.

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