BT Wrap signs badge agreement with Merrill Lynch
Head Chris Freeman said the Merrill Lynch-badged version of BT Investment Wrap would provide Merrill Lynch financial advisers with access to more than 700 managed funds and support its domestic wealth management strategy.
BT Wrap’s ‘open architecture’ platform means Merrill Lynch financial advisers will have “access to one of the most extensive investment menus in the market”, he said.
“While recent market volatility has seen many investors divert their investments to cash, we are now beginning to see these flows return to the other asset classes, and Merrill Lynch planners will now be well equipped to structure their client’s portfolio to meet this demand."
The head of Merrill Lynch global wealth management for Australia and NZ, Chris Selby, said BT Wrap would enhance the range of Australian investment products and services available to the firm’s high-net-worth (HNW) client base.
“BT Wrap complements our existing global open architecture platform and gives us the opportunity to offer clients a vast array of Australian domiciled managed funds in addition to this international offering," he said.
“We expect significant interest from our advisers in the full suite of managed fund options for our HNW client portfolios.”
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
