Managed accounts FUM stands at $232.7b
Financial adviser support for managed accounts have seen total funds under management (FUM) rise to $232.77 billion as at 31 December, last year, according to the latest Institute of Managed Accounts Professionals (IMAP) Milliman census.
The census analysis said this represented a 23.2% annual increase over the 31 December, 2023, figure of $188.85 billion.
Commenting on the census, IMAP chair, Toby Potter said separately managed accounts (SMAs) retained the largest share of the market at 64%, with managed discretionary accounts (MDAs) steady at 25% of managed account FUM.
He noted that the eight organisations the leading 8 organisations managing $10 bn plus in FUM reported 6 months ago have held their position, but 3 organisations are closing in on this milestone.
Milliman Australian practice leader, Victor Huang noted that investment markets had recorded strong growth in the latter half of 2024 with a 6.9% increase in the value of the ASX/S&P 200 Accumulation Index, giving an annual growth rate of 11.1% in the 2024 calendar year.
The FUM Census collected data from 48 large and smaller organisations with varied offerings.
Potter said this showcased a healthy competitive market with a broad range of offerings to meet differing needs from both client investors and advisers.
I think these numbers are too low. Especially if you live in major cities. I try to ensure none of…
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Always back self interest when a body is marketing a submission to the government
In other words the system is achieving what the government wanted to happen.
Every day I come on here it feels like it is just the SMC trying to lobby to make one…