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.
AUTHOR
Malavika Santhebennur
Recommended for you
David Sipina has been sentenced to three years under an intensive correction order for his role in the unlicensed Courtenay House financial services.
As AFSLs endeavour to meet their breach reporting obligations, a legal expert has emphasised why robust documentation will prove fruitful, particularly in the face of potential regulatory investigations.
Betashares has named the top Australian suburbs with the highest spare cash flow, shining a light on where financial advisers could eye out potential clients.
A relevant provider has received a written direction from the Financial Services and Credit Panel after a superannuation rollover resulted in tax bill of over $200,000 for a client.
