AMP-backed Multiport has continued to grow its presence in the managed accounts markets, announcing this week it had reached $150 million in funds administered on its managed accounts service.
Commenting on the milestone, Multiport chief executive John McIlroy said that amid the continuing uncertainty being experienced in investment markets, managed accounts were becoming increasingly popular among investors and financial planners.
“With the Future of Financial Advice reforms and ongoing market volatility causing many financial planners to look at ways to create or improve value for their clients, managed account solutions are being looked at more closely,” he said.
McIlroy claimed managed accounts were a growing financial advice area for financial planners and their clients because they could be tailored to suit the requirements and licensing structure of a financial planner’s business.
“We’re expecting that the interest we’ve already seen in our managed accounts services will continue to grow,” he said.
