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IMA take-up reveals 'fundamental shift'

Advisers have shown strong interest in the new individually-managed account (IMA) model launched jointly last week by non-aligned financial services firms MyPlanner, Implemented Portfolios and Netwealth, with eight businesses jumping on board.

Implemented Portfolios managing director Santi Burridge told ifa the businesses include Wealth 4 Life, Cartier Financial Planning, Aquire Wealth, Maze Financial, IIG Financial Planning and the Mardell Financial Centre.

"We are seeing some early signs of what will be the fundamental shift of our generation of financial planners," Mr Burridge said.

Launched last week the IMA Super and Investment service – My Managed Portfolio (MMP) Individually Managed Account Service is designed to provide advisers with scale, which places the client at the centre.

MyPlanner managing director Philippa Sheehan said the service was launched after the identification of a lack of solutions in the Australian market to support MyPlanner's objective-based advice model.

"Objective-based financial planning requires a combination of structure and strategy advice in addition to a tailored investment programme to truly suit a client's needs," she said.

Mr Burridge said the initial response to the launch shows advisers need a solution to assist clients in growing their businesses.


"This IMA service allows the adviser to deliver one consistent investment experience and with individualised (true IMA functionality) where they control implementation, remodelling, stock, parcel, asset management and importantly, tax," he said.

"The Netwealth custody platform and superannuation trustee services ensures the underlying hi-tech administration of managed accounts can be deployed simply with immediate scale benefits."

Meanwhile, on the Gold Coast, MyPlanner has run its first advice masterclass.

The masterclass is designed to show planners how they can access the tools needed to take control of their investment delivery.

Further advice masterclasses are being held in Brisbane, Sydney and Melbourne in the coming weeks.