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Showing 1 - 10 of 16 results for "MDA providers"

Managed accounts FUM at $131bn

CHLOE WALKER  |  TUESDAY, 15 MAR 2022
... in managed accounts totalled $111 billion. Participants in the census ranged from the large platforms, banks, and MDA Providers through to individual licensees. IMAP chair Toby Potter said that the growth rate in managed accounts is almost approaching ...

Conflicts of interest risk in funds management still high: ASIC

ANNABELLE DICKSON  |  FRIDAY, 24 SEP 2021
... interests." Industry consultees in the report were satisfied that the risks and conflicts are appropriately managed as MDA providers must be licensed by ASIC and are subject to best interest obligations. The report did, however, state that supply-side ...

Results of ASIC MDA review imminent

ELIZABETH MCARTHUR  |  WEDNESDAY, 25 SEP 2019
... An ASIC spokesperson previously told Financial Standard the regulator has obtained information from a number of MDA providers over the course of the review to consider the "drivers and motivations" behind the growth in popularity of MDAs. Several sources ...

Beware adviser conflicts of interest: Lonsec

ELIZABETH MCARTHUR  |  WEDNESDAY, 28 AUG 2019
... regulator said it is reviewing MDAs and as part of that review has demanded certain information from platforms and MDA providers - including information in regards to fees. Nejasmic was previously head of sales at Xplore Wealth, a platform which allows ...

ASIC approves AMP for MDAs

HARRISON WORLEY  |  TUESDAY, 9 APR 2019
... AMP Financial Planning after surveillance efforts, noting MDAs create particular risks for retail clients because MDA providers are authorised to make investment decisions on the behalf of their clients without their prior approval. "The conditions were ...

Technology for advisers by advisers

JAMIE WILLIAMSON  |  FRIDAY, 6 APR 2018
... the development process of important tools and applications," Corben said. The association is also talking with MDA providers on the technology initiative as it will provide a very efficient and scalable means of meeting their own compliance and regulatory ...

Crunch time for limited MDA advisers

KARREN VERGARA  |  WEDNESDAY, 14 MAR 2018
... options," he said. ASIC announced in 2016 it would terminate limited MDAs under Regulatory Guide 179. It now requires MDA providers to obtain a specific licence by 1 October 2018. Advisers should be careful not to fall into the trap of unknowingly operating ...

Iceberg MDAs driving managed account FUM

JAMIE WILLIAMSON  |  TUESDAY, 29 AUG 2017
... Census, he also hinted the amount held in MDAs could be much more substantial. "It's much harder to actually see MDA providers than it is to see the more obvious platform-based services. It's very much an iceberg business," he said. The remaining $4.7 ...

Managed accounts continue rapid surge

JAMIE WILLIAMSON  |  WEDNESDAY, 22 MAR 2017
... billion." The census surveyed 35 companies of varying size, including major platforms, banks and single location MDA providers. It showed the MDA market as experiencing the biggest growth at 64%. Potter attributes the growth to market movement in existing ...

IMAP ensuring greater representation for MDAs

JAMIE WILLIAMSON  |  THURSDAY, 23 FEB 2017
... a sub-committee to represent the interests of managed discretionary account providers. Commencing in March, the MDA Providers Forum will be an invitation-only sub-group, open to leaders of businesses with an AFSL authorisation, meeting in Sydney and ...
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