Endorphin Wealth Management has launched a managed discretionary account (MDA) service, a collaboration with Oreana Portfolio Advisory Services, licensee Lifespan Financial Planning, and platform provider BT Financial Group.
Phillip Richards, Endorphin director, said the collaboration would provide Endorphin clients with significant additional investment experience and oversight, and technological capabilities.
“We believe the collaborators we have brought together to make this MDA possible, coupled with our excellent inhouse advisory skill set will enable Endorphin to achieve outstanding results for our clients,” Richards said.
Richards said the ability to act quick in the uncertainty of current markets was important, but that the added layers of advice and governance in the services meant speed would not come at the cost of rigour.
Eugene Ardino, Lifespan chief executive, said the main benefits of an MDA to the client were that they enabled the adviser to provide more efficient and active portfolio management service.
“Endorphin will also review all asset allocations as well, so there are several layers of review which I think provides quite a thorough and comprehensive service that is well set-up to provide optimal outcomes from the clients,” Ardino said.
Chris Mather, head of distribution at BT Financial Group, said BT was the custodian of the assets in the MDA, and provided the front-end experience to different parties.
“Our role is allowing the different people involved, from the client to the adviser to the licensees to connect and ensure the end client can see how their investments are working, what changes are made in terms of asset allocation, reporting and more,” Mather said.
“It means there is no lag time between the idea and execution, and we’re happy to be providing the architecture and play our part in helping Endorphin make this MDA possible.”
