MGP, which currently provides customised managed account services to over 25 Australian Financial Services Licence holders, announced record net inflows of $107 million for the December quarter, lifting funds under administration to $1.31 billion as at 31st December 2014.

In the group’s December Quarter Update, the Board also declared a quarterly dividend of $0.002 per share, set to be paid on 27th February 2015. Managed Accounts Holdings Limited chief executive officer David Heather said the group had a strong new business pipeline with regulatory reform and changing investor and adviser needs pushing advisers to seek more efficient and cost-effective investment administration solutions. “Advisers are increasingly interested in alternative investment structures like managed accounts because they want an efficient, scalable solution that will help boost productivity and match their long-term business model,” he said.

“We expect interest in MGP’s solution to continue growing. We are in talks with a further 11 firms to develop and implement a managed account solution, after recently signing deals to develop and implement a managed account solution for two new licensees.”

Mr Heather said he expected continued strong organic growth in funds under administration from existing clients as well as growth through existing advisory firms using MGP to acquire firms and integrate the acquisition into their offering.

“Several of our existing clients are looking to acquire other advisory firms in the future which we expect will further boost funds under administration,” he said. Managed Accounts Holdings Limited also announced plans to release new services and functionality later in 2015. This follows the recent appointment of Trevor Fisher in the newly-created position of head of product.

Mr Fisher was formerly head of Macquarie Private Portfolio Management.

The post Record inflows continue for managed account provider managedaccounts.com.au appeared first on AdviserVoice.