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While the use and marketing of managed discretionary accounts (MDA) are rapidly increasing they are not for everyone and advisers and licensees need to make a considered decision when using them, according to Xplore Wealth.

The first quarterly results under Xplore Wealth's new chief executive Michael Wright are out and he has hinted at an expansion plan for all of the firm's businesses, including adding more sub-plans to its superannuation offering.

It's been almost a month since Michael Wright took the reins as CEO of Xplore Wealth and he's excited by the opportunities ahead. He tells Industry Moves about his goals and challenges in the role and what initially drew him to the firm. He also shares a little of his formative years, reflects on the industry's "immense" change of pace, where he sees the role of MDAs in an investor's portfolio, and how he learnt to reframe a crisis.