WealthPortal expands SMA suite


Pharos Financial Group's WealthPortal has launched an expanded suite of separately managed account (SMA) options from SMA service, Proactive Portfolios.
Proactive has launched through WealthPortal's five new managed fund models (MFM) SMA model portfolios, which offer various risk profiles for advised clients. These models would also be available through retail superannuation offering, RetireSelect.
The new SMAs aimed to implement client investment strategies without delay during market volatility. It would also cut the number of advice documents required for client investment strategy and the amount of manual processing needed for trades.
Madison Financial Group national manager, practice development, Jaime Johns (whose firm falls under Pharos), said a range of model portfolios were now available across the firm's listed and managed fund assets and investments, cutting administration for the adviser and compliance risk for the dealership.
WealthPortal responsible entity, OneVue head of product, Brett Marsh, said: "Managed accounts are becoming increasingly popular with advisers due to their efficiency in implementation and compliance benefits, due to clients being actively managed within their asset allocation".
The managed account solutions were available through the WealthPortal website and RetireSelect.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025 with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.