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.”
Recommended for you
Iress has announced it is strengthening its security settings after suffering an unauthorised access of its systems over the weekend.
Financial advice platform Otivo has made an experienced appointment from the US as its head of product strategy.
Apostle Funds Management has appointed the newly created position of director, head of wholesale as the firm expands its Australian footprint in the wholesale sector.
Recruitment manager Robert Half has shared the most in-demand roles in financial services that firms are finding difficult to fill, driven by ASIC’s growing focus on risk and compliance.
