An adviser view

Investing back into the business

Chris Willaton, Head of Investments, Akambo Private Wealth

From the perspective of Chris Willaton, Head of Investments

Akambo Private Wealth

We established our managed accounts offering to provide a better client experience through building efficiencies and scale into our practice. And whilst it has done exactly that, competition, technology and consumer expectations continue to evolve quite rapidly. This means that we need to keep refining our offering to maintain points of differentiation, and strive to provide a superior client experience – otherwise someone else will.

Managed accounts has allowed us to significantly scale our practice and get the efficiencies we needed to grow. In 2016, we initiated a strategy to offer licencing solutions to accountants, and now have established referral partnerships with about 70 accountants across Australia.

Don’t lose sight of what the client wants

Offering a managed accounts solution has brought efficiencies to our business, and a better client experience (investment choices, efficient execution of trades, and a more qualitative focus in the client interaction). But most clients also want to feel special – whether through a bespoke investment approach and/or a genuine personal engagement with their adviser. A product alone does not do this.

Performance matters

Whilst a ‘better client experience’ can enhance the client relationship, most clients still need to see measurable results – relative and absolute. A managed accounts platform has given us greater flexibility and more tools to deliver this. We have been able to leverage our successful performance (particularly with our international portfolio) to differentiate our offering.

"Mason Stevens is the MDA provider, which means one less compliance matter to worry about. They execute all trades (domestic and global), and all the admin, reconciliation and reporting is taken care of. We spend more time building our relationships with clients. "

Success and sustainability

Today, Akambo Private Wealth manages a range of model portfolios for their clients across Australian and international shares, fixed income, hybrids, ETFs and cash. Their work closely with their clients to understand their needs, goals and life plans. Through this deep connection over many generations of clients, Akambo Private Wealth builds trust and confidence in their advice but also for the advice industry. They look after the financial needs of around 750 clients.

October 2017