Zenith managed portfolio clients have been added to the MyNorth platform and Macquarie Wrap as adviser demand grows for managed accounts.
Interest in the products had been growing in the last 12 months thanks to their flexibility, transparency and convenience plus the reduction in administration, Zenith said.
Steven Tang, head of consulting at Zenith, said: “Advisers are increasingly becoming more nuanced in terms of what they’re looking to offer clients – be it a focus on environmental, social and governance (ESG) or other bespoke client needs in portfolio construction – and managed accounts are very good at providing this flexibility.”
The Zenith Essentials and premium Elite Blend portfolios were available on the MyNorth, BT Panorama, HUB24 platforms while Essentials was available also on Netwealth.
As with many areas in the last 12 months, COVID-19 had been a factor as managed portfolios allowed advisers to rebalance multiple clients at once during the market drawdown which would not have been achievable with the model portfolio structure.
“Over the next 12 months, the expectation is for even greater uptake in managed accounts, particularly as responsible investing continues to attract such a large volume of enquiries,” Tang said.
Greg Major, general manager at Blueprint Wealth, which had portfolios on the MyNorth platform, said its portfolios were constructed for a range of client risk profiles.