Philo Capital Advisers has launched a managed discretionary account (MDA) service designed for Melbourne-based advisory business Strategic Wealth.
Philo’s remit to works in collaboration with the advisory firm to identify a preferred portfolio manager and deliver a service with the advice firm’s investment platform. It then co-designs and implements an MDA service based on their existing platform relationships.
The type of services offered by Philo can be tailored based on firms’ different investment beliefs and goals.
The service chosen for Strategic Wealth uses BT Panorama as its platform provider, JANA Investment Advisers as the investment consultant and Antares as the direct equity model manager.
Peter Wilson, managing director of Strategic Wealth, said the service would allow Strategic Wealth to quickly and equitably rebalance client portfolios.
“BT Panorama provides 24-hour reporting on client-friendly desktop and smartphone apps. Philo’s MDA service is cost competitive, and clients also enjoy the benefit of having any investment manager fee rebates funds passed on to them in full. Strategic Wealth has chosen to be solely remunerated through advice fees- we do not share in the MDA revenue.”
“Strategic Wealth ultimately wanted to have access to a service that was consistent with its investment philosophy while representing value for money and a first class client experience. Through a very constructive and enjoyable collaboration with Strategic Wealth, BT Panorama, JANA Investment Advisers and Antares we believe this goal has been achieved,” said Philo chief executive Brett Sanders.
