Perpetual enhances wrap service

chief executive platforms funds management

2 April 2013
| By Staff |
image
image
expand image

Perpetual has completed the revamp of its portfolio wrap service, which forms part of the company’s Transformation 2015 program as it seeks to reduce costs. 

Perpetual announced the appointment of Macquarie Investment Management Limited to oversee the portfolio and fiduciary administration services for clients of Perpetual Private in October 2011. 

The first part of the external administration project saw a superannuation wrap offering launched in April 2012. 

Perpetual chief executive Geoff Lloyd said the use of an external administrator provides Perpetual with “instant access to increased scale”, rather than incurring “significant and continued maintenance and development [costs] ourselves”. 

“Combining this increased focus on our core competencies with the greater functionality of the new solution supports our objective to provide a better service to clients and take advantage of improving conditions to grow our advice business,” he said. 

The new Perpetual Private portfolio wrap service will also offer “sophisticated web-based reporting and self-service capabilities,” according to a Perpetual statement. 

Perpetual Private group executive Mark Smith said the roll-out of the new service would equip Perpetual with a scalable, purpose-built platform solution to target the high-net-wealth segment. 

“Existing and potential clients will note the exceptional depth of service the platform can provide. They will also be attracted by the increased advice time made possible by giving our advisers the tools to reduce their administrative burden,” said Smith. 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 weeks ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 month ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 month 1 week ago

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm. ...

1 week 5 days ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

1 week 1 day ago

Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equi...

1 week ago