Macquarie signs up 30 dealers
Macquarie’s wrap service, the Macquarie Portfolio Manager (MPM), has signed up 30 dealer groups in just four months of operation.
Macquarie’s wrap service, the Macquarie Portfolio Manager (MPM), has signed up 30 dealer groups in just four months of operation.
Among those joining are Morgans Financial Planning, Permanent Trustee, Ord Minnett, MGC Financial Management and The SuperSolve Group.
Judy Shade, head of Macquarie Portfolio Services, attributes MPM’s success to a combination of Macquarie’s design skills, its careful attention to client and adviser research, and its $6 billion Macquarie Cash Management Trust, which is at the hub of MPM.
The MPM wrap services is fast snapping at the heels of BT Portfolio Services, which was established in October 1997. While BT does not reveal funds under ad-ministration, a BT spokesman says the service has been growing exponentially.
She says it has signed up 16 dealer groups, as well as the Fairfax Group’s Personal Investor and online group quicken.com. Announcements about further dealer groups coming aboard should follow soon, she adds.
Meanwhile, in a blow for MPM, associate director Phil Butterworth has left the group to join InvestorWeb. Butterworth was responsible for the Macquarie sales strategy and building a professional sales team. He has also provided valuable in-put into the design of the Macquarie Portfolio Manager.
AUTHOR
Zilla Efrat
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