SMAs on Macquarie Wrap boom
Separately managed accounts (SMAs) have continued on their growth trajectory in Australia with Macquarie announcing SMAs on its Macquarie Wrap platform have surpassed $2 billion in funds under administration (FUA).
Cameron Garrett, head of wealth product and technology for Macquarie Wealth Management, said SMA FUA had doubled over the past year, and it’s a testament to the continued popularity of the investment style.
Garrett said Macquarie had seen that a larger proportion of flows into the Macquarie Wrap platform were being directed into SMAs in response to the value the products could provide to clients.
“The structure of SMAs means that advisers and clients have greater transparency and control when managing their portfolios,” he said. “SMAs also provide significant efficiency and functionality gains for advisers, enabling them to have more high value conversations with their clients.”
AUTHOR
Anastasia Santoreneos
Recommended for you
Iress has announced it will divest its superannuation business as the latest step in its transformation program, allowing it to focus on wealth management.
The corporate regulator has named its new chief executive, who is set to replace retiring interim CEO Greg Yanco in March.
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.
