Australia’s largest non-institutional platform provider, Netwealth, has announced Sydney-based boutique wealth management firm Stanford Brown, as the latest group to launch a private label version of its managed account service.
Commenting on this latest announcement, Matt Heine, Joint Managing Director of Netwealth said; ‘It’s fantastic to see the strong managed account momentum continuing. Increasingly, advisers are wanting an efficient way to implement actionable investment insights across their total client base from small balance clients to high net worth clients looking for sophisticated investment outcomes.”
Heine added “We’re delighted that Stanford Brown has selected Netwealth as its platform partner and look forward to offering their clients a diversified range of new models managed by The Lunar Group. These models will hold a core of high quality active managers with dynamic asset allocation implemented via the use of selected ETF’s”
Jonathan Hoyle, CEO of Stanford Brown said, “The benefits of managed accounts to our clients are clear; far more proactive money management, a better tax outcome and lower fees. The feedback from our clients to date has been extremely positive, particularly around our ability to react quickly to changing market conditions and to better manage downside risk.”
He continued, “Stanford Brown is now in talks with a number of financial advisers regarding managing their client monies. Many financial planning and accounting firms can’t or don’t seek to be specialist money managers and are seeking better resourced third party options.”
Netwealth recently exceeded $10.4 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 continue to make significant investment into our technology and services and have a number of exciting new initiatives that we hope to rollout to advisers early in the new year.”
Netwealth is profitable, debt free and has significant cash deposits which ensures continued investment into the brand, platform technology and staff.
