Australia’s largest non-institutional platform provider, Netwealth, has launched a new private label managed account service with Principal Partners, a privately owned wealth management firm.
The new private label will be available exclusively to clients of Principle Partners and will provide access to the investment expertise and insights of Bennelong Australian Equity Partners.
Commenting on the announcement, Matt Heine, Joint Managing Director of Netwealth, said:
“We have had a long and successful partnership with Principal Partners and have been working with them to identify ways to enhance client outcomes and business efficiency.
Heine continued:
“The new Private label Managed account achieves many of these objectives and when combined with the expertise of Bennelong Australian Equity Partners, who are one of Australia’s most successful Australian equities boutique managers, the proposition is extremely strong.”
Principal Partners Managing Director, John Brady agreed:
“We are excited about embracing the many benefits of managed accounts for our clients as well as driving further efficiency through our business. We approached many high quality investment managers, but were really impressed with Bennelong’s current standing due to their boutique ownership structure closely aligning with our investors, strong long term track record and consistent and disciplined investment approach.”
Netwealth now supports 8 private label relationships and will be launching another 4 in the coming months in addition to releasing a direct International offering in conjunction with a specialist global manager.
Commenting on the growth, Heine emphasised;
It’s an exciting time for us and we are seeing a large increase in new opportunities as advisers focus on building better, more efficient businesses and delivering better client outcomes.”
Netwealth is profitable, debt free and has significant cash deposits.
