Choosing the right managed accounts provider
05 October 2018
05 October 2018
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.
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.
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.
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.
For service, think about the below questions.
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 macquarie.com/afsbenchmarking.
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.
Choosing the right managed accounts provider05 October 2018 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.
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.
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.
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.
For service, think about the below questions.
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 macquarie.com/afsbenchmarking. 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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