Macquarie SMA hits $300m mark
Macquarie's separately managed accounts (SMAs) on Macquarie Wrap have hit $300 million in funds under administration, the firm announced.
It comes two months after Macquarie topped the $200 million SMA funds under administration mark.
Head of wealth product for Macquarie's wealth management division, Cameron Garrett, said: "Since launching SMAs on the market leading platform in September 2014 we've seen strong interest from investors due to their ability to access a wide selection of assets, while taking the complexity out of managing an investment portfolio".
Macquarie also announced that both BlackRock and Elston SMA models were now available on its Wrap platform, taking the total number of investment managers to 14, with 48 model portfolios available.
The five BlackRock portfolios are built using iShares exchange traded funds, while Elston has two multi-asset class SMA models across both super and non-super.
Recommended for you
Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand.
The third quarter of 2024 saw the first positive increase in adviser numbers for 12 months, according to the latest quarterly Musical Chairs report, with new entrants overwhelmingly choosing to join privately owned firms.
As more advisers review their fee structures, Business Health has shared six steps to calculating the price to deliver financial advice services in a profitable yet suitable way.
ASIC’s Sarah Court has confirmed the regulator is carrying out systematic work on providers of unlicensed advice but admits it is a case of “whack-a-mole” when it comes to disciplining them.