Managed Discretionary Accounts (MDA)
HLK Group is a licensed Managed Discretionary Account (MDA) Operator that deals in securities and a range of derivative products including Options, Futures, CFDs and Margin FX. We allow our Authorised Representatives to trade their own strategies as MDA Managers. This means our MDA managers are given discretion by their clients to maintain a portfolio of investments by adhering to a strategy that has been approved by the MDA Operator.
HLK Groups initial aim is to work in close consultation with its potential MDA manager by looking at their business objectives and recommend the option to operate a regulated service. This process can take time however to achieve this we ensure clients are fully aware of their ongoing obligations.
Once an MDA Manager is on-boarded and appointed, the HLK Group team will work closely with them to ensure that all the requirements under the Australian Financial Services Licence conditions are met. This in turn allows the MDA managers to focus on revenue generating activities such as actively managing client portfolios.
HLK Group has invested heavily in technology to provide their MDA Managers with simplified reporting that limiting paperwork. These advancements have improved all round efficiencies ensuring we are at the forefront of technological advancements.
ASIC defines a Managed Discretionary Account service as such:
If you would like to know more about Managed Discretionary Account licensing please submit an enquiry on our contact us page.
ASIC generally defines discretionary portfolio accounts (DPAs), managed discretionary portfolio services (MDPS), investment advisory programs (IAPs), individually managed accounts (IMAs), and separately managed accounts (SMAs) as MDA services, which are all subject to the AFSL obligations under ASIC Regulatory Guide 179.