Managed account FUM grows 22%

8 September 2022
| By Laura Dew |
image
image
expand image

Improved client education has helped managed accounts to grow to $135.8 billion, according to the Institute of Managed Account Professionals (IMAP).

In its latest Managed Accounts FUM Census from IMAP and Milliman, which surveyed 51 organisations, found as of 30 June, 2022, funds under management were $135.8 billion, a 22% rise compared to June 2021.

FUM in separately managed accounts/managed investment schemes increased from $51.09 billion in June 2021 to $70.56 billion while managed discretionary accounts (MDA) services increased from $48.01 billion to $50.64 billion. ‘Other’ services increased from $11.91 billion to $14.61 billion.

However, MDA services declined slightly from $52.76 billion in December 2021 as a result of changes in categorisation by providers.

Toby Potter, chair of IMAP, said: “The investment in client education by financial advisers and investment providers is clearly resulting in a greater focus on clients investing to achieve their longer term goals, and using the structured process that managed accounts provide.

“There has been little sign of clients withdrawing funds when market fluctuations occur. Plus the efficiencies of managed accounts means that advisers have more time to focus on communicating with clients.”

 

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 3 days ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 1 day ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

2 weeks 5 days ago