Platform and SMSF services provider OneVue has renewed its sponsorship of the industry body Institute of Managed Account Providers (IMAP).
IMAP chief executive Toby Potter announced that in coming months, IMAP will launch the first managed accounts directory that will be a comprehensive listing of Australian participants.
“Our aim is to bring together advisers, managers, platforms and other managed account service providers to help build a better industry faster,” he said.
OneVue head of platform strategy, sales and service David Storm said it was important to work with groups such as IMAP and take a “leadership position in the promotion, participation and education of managed accounts.”
Mr Storm said many advisers are interested 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,” he said.
Mr Storm said managed accounts are no longer exclusively marketed to high-net-worth individuals, as they were in the mid-1990s, and now target the average investor.
According to OneVue, the managed accounts space is now valued in excess of $15 billion, and considered a significant part of the retail investor market.
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