WB Financial re-jigs SMA platform
Financial planning dealer group WB Financial has partnered with specialist financial services provider Praemium to relaunch its separately managed account (SMA) platform.
The dealer group, which folded into the Commonwealth Bank-owned Financial Wisdom last year, has relaunched the Agentia SMA service with 11 new diversified model portfolios in both super and non-super structures.
The multi-asset class models apply a multi-manager approach, which give clients low-cost access to a range of investment assets suited for their risk profile and associated asset allocations.
WB Financial will monitor and update the models, including appointment and/or replacement of sub-managers.
Director of operations Murray Wilkinson said when it re-weighs a model portfolio, Praemium automatically updates client portfolios without the need to prepare advice documents.
"Our clients are always within their appropriate risk tolerances, which is good for the client and the adviser," he said.
"Additionally, the Agentia SuperSMA product provides portfolio transparency and flexibility for advisers and clients who are not yet ready to establish their own SMSF."
WB Financial also signalled intentions of using the new self-managed super fund compliance functionality being developed within Praemium.
Praemium reported a 70 per cent jump in funds on its SMA platform in the last year. As per its quarterly update, the firm saw renewed interest from existing SMA clients since it took on the role of responsible entity from Blackrock last year.
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