Which managed account structure should you use for your client?

Overview

Mode of delivery

Online/self-paced

WSU CONTINUING PROFESSIONAL DEVELOPMENT FOR FINANCIAL ADVISORS

This CPD program contains content which will enhance knowledge and skills within theClient Care and PracticeCPD activity area inorder to meet obligations under theCorporations (Relevant Providers Continuing Professional Standard) Determination (Amendment) 2020

What is CPD?

CPD is the intentional maintenance and development of the knowledge and skills needed to perform ina professional context.Under the Corporations Act 2017 (the Act) all individuals identified as a ‘relevant provider’ must meetthe requirements for continuing professional development set by the Standards Body (s 921B(5)).

Additionally, it is an obligation under the Financial Planners and Advisers Code of Ethics 2019 that financial advisers must develop,maintain and apply a high level of relevant knowledge and skills (Standard 10).

Syllabus

Describe what a managed account is and the key differences between the three main types of managed accounts - investment management accounts, managed discretionary agreements and separately managed accounts.
Explain the benefits and risks of managed discretionary accounts and the issues that must be discussed with clients.
Evaluate the appropriateness of a managed discretionary account service for a client’s portfolio.
Assess the three methods available to an adviser to access a managed discretionary account service and list three issues you need to consider.
Understand the considerations of the FASEA Code of Ethics when assessing managed discretionary accounts for retail clients.