By Jayson Forrest - Managing Editor - IMAP Perspectives
Nigel Douglas CEO - Douglas Funds Consulting
IMAP Awards Judge provides awards insights
With the deadline for submissions for this year’s IMAP Managed Account Awards closing on 26 June 2020, one of this year’s judges has provided some valuable insights into the overall criteria and judging process for these prestigious awards.
The IMAP Managed Account Awards cover both single sector and multi asset class portfolios, with an award specifically for managed account portfolios offered by advice firms that are integrated into the advice process, as well as an innovation award that advances the development of managed accounts.
According to Nigel Douglas - the CEO of Douglas Funds Consulting and award judge - the judging process is a streamlined, with the panel of judges looking to recognise and reward best practice in the development of managed account portfolios.
In providing an overview of the judging criteria, Douglas said it was a mix of qualitative and quantitative factors, which uses a weighted ratings criteria. For the asset classes, this fixed weighting is 70 per cent qualitative and 30 per cent quantitative. However, he added that these weightings will be different for the ‘Licensee’ category (split 80/20 per cent) and the ‘Innovation’ category (which is 100 per cent qualitative).
The judges will be considering a business’s advocacy of managed accounts, so it’s important that applicants clearly demonstrate this.
Judging process explained
“Overall, the judging process is streamlined,” said Douglas. “We have a good mix of judges who are all very experienced and highly regarded, which promotes constructive and thoughtful discussion.
“We require written submissions from entrants, a quantitative template, and examples of client collateral. FEFundInfo will provide the quantitative analysis.
The judging panel will review all submissions by category, before coming up with our list of finalists and then the winner for each category by consensus.”
Douglas also confirmed that all finalists for the Licensee and Innovation categories will be video interviewed by the judges.
“These two categories are very competitive, so finalists will need to make a good impression,” he said.
Winners announced in August 2020
IMAP Chair, Toby Potter encouraged companies to put in their entries for this year’s awards, saying the overall exercise was “a great opportunity to learn more about your own processes by doing so”.
Now in its third year, the IMAP Managed Account Awards are recognition of practice excellence among advice firms.
The award winners will be announced in August, with each category award winner invited to present at IMAP Portfolio Management Conferences in November.
The winners will share their insights on what makes their approach to managed accounts so successful.
For more information on the IMAP Managed Account Awards, click here.