Netwealth to partner with Australian Unity
Netwealth's managed account service is launching as a private label version with Australian Unity, as part of a partnership deal which would see Netwealth linked more closely with the 180 advisers and $6 billion in funds under management (FUM) held by Australian Unity.
Netwealth had recently exceeded $11.3 billion in FUM with growth across private client, the IFA, and wealth management sectors. Joint managing director, Matt Heine, said the focus would now be on continued investment in technology and services offerings moving forward.
"Netwealth is delighted to further strengthen its relationship with Australian Unity with a managed account that offers three private label diversified models, together with access to a broader panel of professional managers," he said.
"We are progressing a number of exciting new initiatives that we hope to roll out to advisers during the early part of the year."
Australian Unity personal financial services head of investment research, Jeff Mitchell, said his company's investment strategy aligned well for the partnership.
"Our strategies are innovative due to the portfolios having absolute return objectives to exceed inflation by a risk premia, the use of a risk focused dynamic asset allocation and the use of a combination of both active and passive managed funds," he said.
"We are excited to be able to offer our diversified portfolios through the Netwealth managed account service."
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