The benefits of managed accounts are the focus of this week’s ifa Show podcast. As the use of managed accounts continues to grow, host Maja Garaca Djurdjevic is this week joined by HUB24 head of managed portfolios Brett Mennie, Elixir Consulting expert business strategist Graham Burnard, WOW Women Group founder and CEO Tracey Sofra and Private Wealth Partners financial adviser Damien Skidmore to discuss their biggest benefits. "Running a practice has now become quite complex, quite compliance burden-orientated. Costs have gone up in delivering advice to clients and advisers are looking for, within their practice, to become more efficient, looking at where their time is spent," said Mr Mennie. “Managed accounts solve that dilemma while also reducing risk in the practice, so it more systematises the practice.” Combating the cost of delay, having professional management oversight and deepening the client relationship were among the key benefits highlighted by this week’s guests. Ms Sofra and Mr Skidmore also shared their own perspectives on transitioning to managed accounts, while Mr Burnard stressed the importance of having a plan in place before making the jump.