Macquarie Wrap surpasses $100b FUM
Funds under administration (FUM) on the Macquarie Wrap platform has grown to $101.4 billion for the year ending 31 March, 2021.
Michelle Weber, Macquarie Wealth Management head of wealth product and technology, said that the milestone reflected Macquarie’s long history and deep expertise in the platform industry.
“We’ve been in the platform industry for more than 20 years and through this we’ve built a deep understanding of what is important to advisers and their clients and we have a proven track record on delivering on those needs,” Weber said.
“We’re proud of this growth as it demonstrates the significant value advisers and clients are seeing in our platform and our broader wealth management offering.
“We’re seeing that Macquarie’s strong brand in this space, our leading platform, and the access to the deep expertise of our people and the broader insights of Macquarie is an offering that is really resonating with advisers.”
The platform had a 21% market share and had seen growth in the superannuation space with half of funds on the platform attributable to super and pension.
Its Separately Managed Accounts (SMA) had also seen strong growth with FUM surpassing $5 billion.
AUTHOR
Chris Dastoor
Recommended for you
Following the departure of its chief marketing officer last year, AMP has appointed a successor to take up the position with the appointment coming from the US.
The Financial Services Council has appointed Justine Earl-Smith as executive director for commercial partnerships and growth, a newly created role for the organisation.
The global asset manager has announced a new chief executive to succeed Abdallah Nauphal, who has helmed the firm for nearly 20 years.
The ethical fund manager has appointed a new business development manager from Count with the aim of driving growth and enhancing support for financial advisers.
