Best Practice Forum - Managed Accounts

MANAGED ACCOUNTS INSIGHTS FOR FINANCIAL ADVISERS

Thursday, 19 September 2024 - W Melbourne | In person and live-streamed

Offering 4.0 CPD hours, subject to approval

The managed accounts sector is going from strength to strength in Australia, with more than half of all financial advisers now using them and close to $200 billion in funds under management.

As such, the managed accounts conversation has shifted from integration and implementation to optimising investments, ensuring value for money and making use of the productivity benefits they offer.

This year's forum will enable advisers to see the forest from the trees when it comes to navigating the managed accounts environment, focusing on what's next from a technology standpoint, what's coming down the regulation pipeline, and offering insights on how to make sense of performance metrics and build strong, diversified portfolios for your clients.

Financial Standard's Best Practice Forums are accredited by the Financial Advice Association Australia (FAAA) for CPD hours aligned to Legislated CPD categories. The Managed Accounts Forum was accredited for 3.75 learning hours in 2023, divided into the following Legislated CPD categories:

• General: 0.75 hours
• Technical competence: 0.75 hours
• Client care and practice: 1.50 hours
• Regulatory compliance and consumer protection: 0.75 hours

If you are after additional professional development content or would like to access the CPD content from previous forums, please visit Financial Standard's CPD program FS Aspire CPD.

 

MANAGED ACCOUNTS INSIGHTS FOR FINANCIAL ADVISERS

Agenda is subject to change

8:30am

Registrations open

9:00am

Welcome to the Managed Accounts Forum

Master of Ceremonies: Tim Townsend - Private Wealth Adviser, Townsend Cobain Private Wealth Partners

Find out more about Tim

Tim Townsend is one of the two founding partners of TownsendCobain - Private Wealth Partners. This practice was established as a fee-based private firm with the aim of providing comprehensive wealth management services to individuals, families, and privately held companies. Over the past 11 years, TownsendCobain has experienced significant growth and has become a reputable and successful financial advice practice, managing over $360 million in client's assets, the majority held within the Managed Account structure established 6 years ago.

9:10am

Mapping the landscape: managed accounts trends, usage and what's next

• Since 2013, Managed Accounts in Australia have experienced extraordinary growth rates. In attempting to understand the drivers of this growth, we've partnered with Investment Trends to survey advisers to better understand the key trends, uptake, benefits and challenges of the structure.
• We will take you through some of the key takeouts from this report, but not before going over a quick refresher on the various structures that make up our typical understanding of managed accounts.

Speakers:

• Alex Brown - Business Development Manager, State Street Global Advisors
• Kathleen Gallagher - Head of Model Portfolios EMEA & APAC, State Street Global Advisors

Find out more about Alex and Kathleen

Alex has over 10 years sales experience working in the Wealth Management industry, across several different roles and products. Whilst at State Street he has been responsible for servicing existing and new clients across ETFs, Managed Funds and Managed Accounts ranging from index to active strategies, with prior experience specializing in retirement investments at Allianz Retire+. Prior to that he was responsible for working with both new and existing clients at BT in the wealth platform market. Kathleen is a Managing Director at State Street Global Advisors and is Head of ETF Model Portfolios in EMEA and APAC and a and a member of State Street Global Advisors' Senior Leadership Team. In this role Kathleen is responsible for delivering State Street Global Advisors' multi-asset class capabilities to the intermediary market via managed portfolios of ETFs.

9:50am

Nurturing growth: how innovative managed accounts support clients across their wealth journey 

• As the intergenerational wealth transfer and aging population contribute to a demographic shift in the financial landscape, advisers are continuing to evolve their client acquisition and service offerings.
• In this session, we're joined by practitioners to discuss how HUB24's new unique Discover offer can support advisers to nurture new client segments.
• Gain insights into how clients with less complex investment needs can benefit from a select range of managed portfolios, simplified fee structure and the portability to support their wealth accumulation and retirement journey.

Panelists:

• Brett Mennie - Head of Managed Portfolios, HUB24
• Ryan James - Principal Financial Adviser, Sonder Advisory Group
• Libby Newman - Senior Investment Specialist, Research and Strategy, Vanguard Australia
• Kirstie Oliver - Director, ELEVENTEN Advisory

Find out more about Brett, Ryan, Libby and Kirstie

Brett Mennie is the Head of Managed Portfolios at HUB24, a role he has held since February 2020. With over 30 years of experience in senior executive distribution leadership, Brett has been instrumental in shaping major Australian wealth management businesses, including J.P. Morgan Asset Management, Vanguard Investments Australia, Perpetual Investments, and the AXA Financial Advice Network. He has also practiced as a financial adviser and led teams of advisers, Business Development Managers, and Licensee Practice Development Managers. Ryan's journey within the financial services industry began over 5 years ago with one of Australia's largest advice institutions, before transitioning to a boutique advisory firm and more recently, becoming self-employed under the business Sonder Advisory Group. Having managed his own automotive battery business from a young age, he understands the daily challenges faced with managing finances, and the need to plan and prepare for all aspects of the future. This allows him to connect further with clients to ensure that the advice provided is tailored and unique their circumstances. He is passionate about providing holistic advice and an end-to-end experience for the clients I work with, and enjoy helping individuals, families and business owners grow and protect their wealth. Libby Newman is a Senior Investment Specialist, Strategy and Research with Vanguard Australia. In this role Libby is responsible for supporting Vanguard's distribution team by connecting the adviser community with Vanguard's extensive investment and strategic research as well as leading the portfolio consulting service. Prior to joining Vanguard in February 2021, Libby was leading the Active Manager Research Team at Lonsec and spent much of her 13 years there leading fixed income and multi asset sector research. Libby has more than 25 year's financial markets experience spanning manager research and due diligence, asset allocation and manager selection and portfolio management. Kirstie Oliver is the founder and Director of ELEVENTEN Advisory, an Independent Private Wealth firm specialising in complex strategic advice. She has over 20 years experience developing tailored advice to her clients based on their unique situations and individual goals. Having now experienced working across three generations of family members (from the Silent Generation all the way through to Gen Z), she is acutely aware of the transfer of wealth currently occurring and the complexities this presents. The cornerstones for a successful and repeatable advice and service delivery, must incorporate family values, acknowledging divergent and often complex family wealth needs, whilst supporting varying levels of financial literacy. Kirstie is completing the last unit of her Masters of Financial planning in 2024 and outside of work you will find her in the garden.

10:30am

Navigating portfolio construction in the current market

• Mercers Investment Philosophy and approach to building multi manager, multi asset, Managed Accounts.
• Long term themes that may shape the investment landscape.
• Themes in the current market that impact portfolio construction.

Speaker: Rebecca Jacques - Head of Investment Solutions, Mercer

Find out more about Rebecca

Rebecca is the Head of Investment Solutions for the Wealth Management client segment in the Pacific.  Rebecca is responsible for leading the Portfolio Solutions Group, and the Advance Diversified Multi-Manager Funds and Mercer Indexed Diversified Funds. She is also involved in preparing strategic investment advice to institutional, Family offices, private banks and wealth management clients and is the Asia Pacific Representative for the Mercer Research Ratings Review Committee. Prior to joining Mercer in October 2018, Rebecca gained more than 20 years of investment and financial services experience.  This included heading up the managed funds research business at ASSIRT Pty Ltd, being part of the executive management team brought in to establish the retail presence of Deutsche Asset Management in Australia and as the chief operating officer of a boutique hedge fund established by the chairman of AIMA Australia.  Rebecca has led her own consultancy business providing investment and portfolio construction advice to independent financial planning firms, and dealer groups, as well as product and asset management consultancy to asset management firms. Rebecca holds a Bachelor of Arts (Economics and Politics) (Honours) from Monash University; and a Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia.

11:10am

Morning Tea

11:40pm

Trailblazers: innovating with managed accounts in challenging times

• As the managed account space matures there are challenges impacting the industry.
• Explore these challenges from both the viewpoint of an adviser and a portfolio manager.
• Discuss how these challenges create the need for innovation, what that innovation looks like and how it can benefit members and advisers.

Panelists:

• Terry Constable - Chief Executive Officer, Acclaim Wealth
• Max Riaz - Investment Manager, First Clarity Investment Management
• Leith Thomas - Chief Executive Officer, Managed Portfolios

Find out more about Terry, Max and Leith

Terry joined Acclaim Wealth in May 2013 and has over 14 years' experience in the financial services industry, having also held roles as a financial adviser and in dealer group operations. Now based in Sydney as CEO, Terry leads a talented and passionate team at Acclaim as they head into their next phase of growth, continuing to build Acclaim's unique individual HIN superannuation and investment offering, underpinned by premium service. Max has over 25 years of professional experience in investment management and executive management. Over the years, Max has spent significant time at investment management firms, excelling in consulting to professional wealth advisory firms on investment research and portfolio management. He is known for making successful and contrarian calls in very challenging market conditions. Max is also experienced in working with high-net-worth clients and family offices. Advisers have recognised Max's approach as being free of bias and brings a deep understanding of macro and geopolitical issues, market cycles, drivers of value creation and preservation, and individual asset classes and securities. Leith Thomas brings 19 years of experience in the financial advice industry, with more than 17 years specialising in Individually Managed Accounts (IMAs) and Managed Discretionary Accounts (MDAs). He has played a key role in developing proprietary technology that streamlines the management of personalised, non-pooled model portfolios, empowering financial advisers to create IP within their client offerings. Having successfully implemented this model for direct clients over the past 15 years, Leith, through Managed Portfolios, began sharing his approach with other financial advice firms in 2023 with great effect.

12:20pm

A rumble in the jungle: adviser panel

• Why did we chose MDAs? How have we used MDAs? What value have they added for advisers clients and the firm?
• Their unique experience and learning from their journey using MDA as an advice practitioner and their client experiences.
• Their firm's experience and learning from their journey using MDA as an advice practitioner and their client experiences.

Panelists:

• Kieran Canavan - Chief Investment Officer, Centric Wealth
• Michael Driessen - Senior Financial Planner, GDA
• Daniel Testa - Senior Adviser, Findex

Find out more about Kieran, Michael and Dan

As CIO of Centric, Kieran leads through big ideas, industry insights and commitment to strategy, placing Centric at the leading edge of the financial technology industry. Kieran began working in the financial services industry in 1992 as a Financial Adviser for premier clients of The Standard Bank. By 1997 he was heading up special projects within Standard Bank, specifically focused on mortgage securities. In 1997 Kieran immigrated to Australia to head up a major international manufacturing, import and redistribution company based in Sweden; Poseidon AB. In late 2002 Kieran moved back into the Financial Services industry and joined Centric Wealth in 2003. Kieran joined the Findex Group Management Team as a result of its 2014 acquisition of Centric Wealth as Chief Investment Officer for the Findex Group. Kieran's strength in innovation has seen him lead the Centric business post acquisition and launch Centric as a market-leading platform where he has overseen the creation of the Centric ecosystem and continues to strive for ways to unlock value for our clients. Michael, who joined GDA in 2007, brings over 20 years of experience in the financial planning profession. Since GDA began operating MDAs in 2011, he has played a crucial role in establishing and implementing the MDA offering within GDA's advisory practice. Michael continues to be actively involved in the ongoing management of GDA's MDA services Daniel brings a holistic approach to financial advice, combining extensive experience and a strong empathy for people and for making the world a better place for as many people as possible. A highly respected and trusted adviser, with over 15 years' experience in the banking and financial services industry; his expertise and focus is on supporting, educating, and empowering clients to take control of their finances and in turn creating a lifestyle they choose. This means it's not just about improving a client's financial position. Of course, that's important. But financial advice is much more than that. It's looking at building the life every client wants, prioritising what is most important at each stage of that journey, and creating a road-map to make it happen - together.

1:00pm 

Closing remarks

Event end

1:10pm

In-person: lunch and post networking drinks

BOOK YOUR SEAT

THURSDAY,
19 SEPTEMBER 2024

8:30AM - 2:00PM

W MELBOURNE & LIVE-STREAMED ONLINE

COMPLIMENTARY FOR FINANCIAL ADVISERS

 

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