Coral Coast partners with AMP managed portfolios
AMP has partnered with Queensland advice practice Coral Coast and Mercer to create a new range of partnered MyNorth managed portfolios.
The five new diversified risk-based portfolios, which were tailored to the specific needs of Coral Coast’s clients, were delivered through the MyNorth platform with investment management services provided by Mercer.
Shaune Egan, AMP’s director wrap products, said its partnered managed portfolios were growing in popularity as more advice practices recognised the benefits of creating tailored portfolios for their clients.
“The nature of the managed portfolio structure also provides transparency for clients, giving them ownership of the underlying assets in the funds, with visibility of performance metrics through regular and transparent reporting,” Egan said.
“We’re continuing to invest in and expand our MyNorth managed portfolio range, with more new offers set to launch in 2021.”
Craig Armstrong, Coral Coast’s managing director, said the combination of a high-quality investment manager and wrap platform, with investments packaged through the efficiency and transparency of the managed portfolio structure, simplified investment decisions for their clients.
“The portfolios combine passive and active investment strategies to optimise diversification benefits and manage risk for our clients, while MyNorth’s contra trading functionality allows flexibility to rebalance the portfolios without creating unexpected timing consequences, minimising volatility and eliminating time out of the market,” Armstrong said.
Luke Fitzgerald, Mercer’s wealth management leader, said advice businesses were increasingly looking for customised investment solutions to support their teams in helping them achieve their clients’ objectives.
“By drawing on Mercer’s global expertise and research based investment consulting capabilities, we were able to build these tailored portfolios together with Coral Coast to drive better investment outcomes for clients,” Fitzgerald said.
AUTHOR
Chris Dastoor
Recommended for you
Momentum Media has announced 26 winners across 10 individual and 15 group categories for its brand-new Australian AI Awards.
The financial services industry is currently “overwhelmed with quality and quantity of candidates”, Kaizen Recruitment explains, leading executives to face 12-month long recruitment processes.
Zenith Investment Partners has appointed an experienced research executive as its new group head of research following the departure of Bronwen Moncrieff.
The financial services technology company has appointed two non-executive directors following its AGM earlier this year, where it flagged it would embark on a board renewal process.
