Leading managed account provider managedaccounts.com.au, a subsidiary of listed company Managed Accounts Holdings Limited , has bolstered its sales and relationship management team in response to growing demand for its managed discretionary account service.
Former financial planner Doug Kirkman has joined managedaccounts.com.au after eight years as principal of Melbourne-based advisory firm, Cameron Walshe Financial Planning. Prior to that, Kirkman was head of sales and distribution at Suncorp-owned Asteron Life.
David Heather, chief executive of managedaccounts.com.au said Kirkman was the ideal candidate to drive the Company’s continued expansion in Victoria which is where around 60 per cent of clients are currently based as well as build additional relationships in South Australia, Western Australia and Tasmania.
Kirkman said the managed accounts industry was perfectly poised for growth with increasing adviser and investor demand for innovative, flexible and efficient business solutions.
“It’s an exciting space to be in and managedaccounts.com.au is on the cutting edge,” he said. “Managed accounts are a way advisers can deliver better service and value to clients, and gain back-office efficiencies. Interest in MDAs has never been stronger and as a former adviser, I believe I bring a unique perspective and understanding about the challenges facing advice businesses and the types of solutions principals need.”
Kirkman’s appointment was incorporated into prospectus forecasts to coincide with record inflows for the June 2014 quarter. In a recent ASX announcement, MGP confirmed it had exceeded target Prospectus forecasts for funds under administration and net profit before tax (NPBT) during a period when four new Australian Financial Services License (AFSL) holders had implemented a solution provided by the Company.
There are now 23 licensees using managedaccounts.com.au. Two additional licensees have signed a Memorandum of Understanding to implement a private label managed account service with managedaccounts.com.au in the next few months.
Don Sharp, executive chairman of MGP said the Company’s strong performance was a clear validation of its strategy and highlighted the attractiveness of the Company’s business model and service offering.
“This support and vote of confidence from our clients has further boosted our reputation in the marketplace, evident by a number of new firms selecting the managedaccounts.com.au solution over other providers and platforms,” Sharp said.
