Netwealth has announced the expansion of its retail managed account menu with the appointment of two new managers, Elston Asset Management and Quilla Consulting.
Commenting on this latest announcement, Matt Heine, Joint Managing Director of Netwealth said; ‘Whilst our recent focus has certainly been geared towards the very strong growth of our private label relationships, it’s important we continue to add new professional managers and options to our menu to ensure the range of options remain relevant to both advisers and clients’.
Nick Revis, Head of Asset Management at Elston commented; “we’re very pleased to be able to offer our range of models through the Netwealth platform. Elston’s investment approach delivers diversified portfolios across various asset classes to help investors build and preserve their wealth. We have established a consistent track record of strong risk-adjusted returns through a methodical approach to investment which focuses on transparency, diversification, direct assets where practical and true after-tax management. Importantly, we have over ten years experience in managed account structures and actively work with businesses to share our insights and knowledge. We are delighted to be working with Netwealth in delivering great outcomes for investors.
Andrew Connors, Director of Sydney headquartered, Quilla, commented, ‘our SMA portfolios are cost effective and are designed for use by Advisers, either as a holistic investment solution or as the core component of a structured recommendation. We are delighted to deepen our relationship with Netwealth to offer our public menu SMAs, in addition to our Adviser private label portfolios”.
Netwealth plans to add further managers to its managed account service during the second half of 2017 as it continues to support increasing adviser demand for managed accounts.
Netwealth recently exceeded $14.23 billion in Funds Under Management (FUMA) following strong inflows and continued growth across the IFA, private client and wealth management sectors.
Netwealth Joint Managing Director, Matt Heine, said the firm had also launched initiatives including a wide range of new adviser efficiency enhancements, nine new private label managed accounts, and the transition of the Russell IQ Wealth and Super platform across to Netwealth.
Netwealth is profitable, debt free and has significant cash deposits which ensures continued investment into the brand, platform technology and staff.