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.
Recommended for you
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.
Several wealth management companies have been selected as finalists at the inaugural awards, which champions those who have transformed the Australian economy with their AI solutions.
Money Management’s sister brand Super Review is pleased to reveal that over 120 finalists will compete for trophies at this year’s awards.