Macquarie Wrap trials new model portfolio capabilities
New model portfolio capability is one of further improvements that will lead to a new generation wrap, according to Macquarie Wrap.
Macquarie Wrap is trialling its new model portfolio capabilities with 10 dealer groups across the country with the aim of creating additional efficiency for advisers, it stated. Macquarie Adviser Services’ head of insurance and platforms, Justin Delaney, said the new capabilities enabled advisers to set up a series of model portfolios ideally suited to their range of clients, adding that additional efficiencies such as this were crucial components of what would become the next generation wrap.
He asserted that wrap platforms had become much more than administration tools.
“Wrap platforms are about giving advisers the tools to do what they do better and more efficiently, which is providing advice to their clients,” he said. “It is clear that wraps need to continue to evolve to meet the changing needs of advisers, meaning providers like us need to carefully consider what developments will form the next generation of platforms.”
The new capability will be officially launched by the end of the year, and is one of a number of new features Macquarie Wrap expects to include in the future. A new superannuation capability, called Pension Update Facility, is expected to be introduced soon that aims to create a solution for clients wanting to consolidate super monies into a single account based pension.
Recommended for you
LGT Crestone has signed an agreement to acquire CBA’s personal advice business, Commonwealth Private Advice, including $5 billion in assets and 20 investment advisers.
In a time of constant adviser movements, one licensee has managed to stay “steady on their skates” over the years to sit jointly with AMP Financial Planning in having the highest number of advisers.
ASIC commissioner Alan Kirkland has described the problem of telemarketers encouraging people to switch their super as “the worst behaviour”, and one where the regulator is taking significant action.
Financial advice and its associated technology have been identified by industry experts as key hotspots in the Australian M&A landscape.
