Independent Thought Highlights: What will it take to serve retail investors in 2023 Artwork

IMAP Podcast Series - Independent Thought

The Institute of Managed Account Professional's role (IMAP) is to be the industry organisation for advisers, managers, providers & businesses actively involved in offering or supporting Managed Accounts. Our goals are to assist managed account professionals by providing: - Information via news, email updates, website & articles- Education - through events, webinars, conferences, & podcast- Representation - to regulators such as ASIC and FASEA

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IMAP Podcast Series - Independent Thought

Independent Thought Highlights: What will it take to serve retail investors in 2023

November 01, 2022 • IMAP

Podcast Highlights - What will it take to serve retail investors in 2023

This summarised and short version of podcast episode 16 picks out the key challenges of servicing Retail investors' demands in 2023

What is your value proposition for different groups of clients and how to create a sustainable service option
Technology to implement your proposition and communicate efficiently with clients
ESG: what are client preferences and how can advisors become comfortable in discussing ESG with clients.
Ethical thinking in dealing with clients
Geopolitics: handling client concerns
Communicating with clients around volatility and appropriate actions or need to not make changes if not appropriate

Featuring:
James Freeman, Philo Capital Advisers
Nick Mitchell, Mason Stevens
Steven Tang, Zenith Investment Partners
Rick Di Cristoforo, Morningstar

Moderated by David McDonald, CFA - IMAP

Speaker 1: 0:01

This podcast series is not meant for retail investors, but instead is meant for financial advice and investment professionals. Please refer to iMaps website, imap.asn.au for more details.

Speaker 2: 0:17

Look, um, I know we've taken up quite a bit of time and perhaps what I'd like to do just to finish up is maybe just go around the four of you and just ask you if the sort of one final point that you would like to emphasize that you, you think's important and, um, perhaps Rick, can I start with you?

Speaker 3: 0:34

Yeah, I just wanted to iterate, you know, just we spent a lot of time today talking about, um, the managed account side of delivering to a service. And I guess that's what I just wanted to iterate is just understanding your cohort and, um, you know, meeting the needs of that cohort with your service offering, which, you know, would include comms and cadence and in and, um, you know, investment philosophy and obviously execution and implementation through an efficient structure like a managed account.

Speaker 2: 1:03

Thanks Steven. Do you have one, one point,

Speaker 4: 1:08

Do I have one point? Um,<laugh>. I think you need the technology, uh, you know, to understand sort of what you hold and then be able to clearly articulate that to your client base as in and execute according to the, to to what you, you say you will deliver.

Speaker 2: 1:24

And Nick, Nick, is uh, there something you'd like to emphasize?

Speaker 5: 1:28

Yeah, the, the previous two comments from both the boys. Can I just blend those cuz I think that pretty much sums up on<laugh>. I think, um, very good from an investment point of view, you know, let your asset allocation do the job, focus on well constructive portfolios that match your investment philosophy. And what managed accounts do is, is they provide a mechanism to, um, make quick positive decisions on behalf of your clients. So, um, the more they're adopted, I think the better it'll be for Australian investors

Speaker 2: 1:53

And James.

Speaker 6: 1:55

Oh yeah. Um, all good points have, have now been made, but I'll, uh, I'll give it a shot. Yeah. Um, yeah, so I think that, I think the key for, for next year and, and an evergreen point, um, for every year is really be in a position to move decisively to minimize that cost of delay that we touched on earlier and to do so across your entire client base. So as you can treat all your clients fairly, and I think a managed account situation, which we've discussed, definitely puts you in a sort of technology and sort of governance position to be able to do those two key things.

Speaker 2: 2:31

Okay. Well it just remains for me to thank the four of you for taking part in this podcast today, looking at what it takes to serve retail investors in 2023 and indeed beyond that. So I'd like to thank James Freeman from Filo Capital, Nick Mitchell from Mason Stevens, Steven Tang from Zenni, and Rick Deriso from Morningstar. Thank you all. And just finally, you can check on the iMac website for upcoming events. One I would like to point out is in the week beginning the 5th of December, we are gonna have a webinar series looking at the advantages and disadvantages of boutique and smaller fund managers.