Australia’s largest non-institutional platform provider, Netwealth, has announced their latest partnership with boutique wealth management firm Cardena Private Wealth who went live with a new private label this week. Cardena Private Wealth is a Sydney based firm which previously traded as Arrive Wealth Management Sydney.
Cardena Private Wealth Director, Jonathan Kilborn said, ‘We have spent the last couple of years reviewing the market and evaluating the various managed account options available. We are really pleased with the solution we have designed in conjunction with consultants Intama Pty Ltd and which Netwealth has been instrumental in developing.”
He continued:
“We have also been actively speaking with our clients about the significant benefits of managed accounts and the feedback has been extremely positive particularly around our ability to effectively react to changing market conditions and managing downside risk.”
Commenting on the announcement, Matt Heine, Joint Managing Director of Netwealth said;
“We’ve been working with Cardena Private Wealth for some time and are really pleased to be offering their clients a range of multi asset, objectives based models which utilise dynamic asset allocation to achieve their set objectives. Historically the implementation of these models could not have been achieved under a traditional advice framework where SOA’s and ROA’s are required for each rebalance or asset class tilt.”
Netwealth recently exceeded $10 billion in Funds Under Management (FUM) following strong inflows and continued growth across the IFA, private client and wealth management sectors.
Heine further said “We are also seeing the industry undergo a number of major structural changes which have led to a significant shift in the use and growth of managed accounts. In addition to strong take up of our public managed account menu we now support 11 private labels and will be launching another 5 in the coming months.”
Netwealth is profitable, debt free and has significant cash deposits which ensures continued investment into the brand, platform technology and staff.
