Choosing the right managed accounts provider

05 October 2018

Bianca de Melo

Bianca De Melo is the NSW state sales manager for the wealth Intermediary Team in Macquarie Banking & Financial Services division.

Macquarie’s 2018 Accounting and Financial Benchmarking Report compared the focus of high-performing firms to the market and found three major areas of difference.

High-performing firms were more likely to prioritise client-centric efficiency improvements, to invest in technology for those efficiencies, and to focus on retaining key staff. Managed accounts can help move the dial on all three of those areas in your business.

If you’ve decided to look at managed accounts to deliver more for your clients, here are some key areas to consider when you’re deciding who to partner with.

Experience in managed accounts is critical. You need to feel confident that your provider’s got the right experience in managed accounts, so you can spend more time on client conversations.

Here are some questions to consider when assessing your potential managed accounts provider.

  • What’s the pedigree of the firm?
  • Do they have a strong balance sheet?
  • What experience have other clients had with them?
  • Do they offer a whole of business solution and what other products or services do they offer?


Flexibility is another important attribute in a managed accounts partner. You need choice when it comes to supporting your clients’ wide variety of needs.

Think about these questions.

  • Do they offer flexible adoption – can you buy off-menu or build your own?
  • Which partners can they connect you with?
  • What other product features do they have to support ease of ongoing use? This could be features like portability, income election, or external RE capability.


Reporting and data feed quality and capability is critical to getting managed account adoption right. Detailed reporting will build your clients’ trust in the solution.

Make sure to ask the below questions.

  • Do the underlying assets get reported?
  • Is the right level of information being provided to support my conversations with clients?


Transparency is a key change clients will see with a managed account solution compared to traditional investment models. You need to look at the solution in terms of both implementation and service.

For implementation, it’s important to consider three questions.

  • How do you make sure your clients are getting the best possible price?
  • How are the direct equities traded?
  • Is there a dedicated implementation team that you’ll have access to?


For service, think about the below questions.

  • Is there a dedicated specialist able to speak with you if an error occurs?
  • Is there a support network of experts you can easily get in touch with for support?
  • Is there change management support available to assist you?


Macquarie’s 2018 Accounting and Financial Benchmarking Report surveyed nearly 400 accounting and financial services practices nationally in December 2017. To find out more about what it will take to thrive in a changing environment, download a copy of the 2018 report at

This information is provided by Macquarie Bank Limited AFSL 237502 and does not take into account your objectives, financial situation or needs. You should consider whether it is appropriate for you.

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