Licensee service provider MyPlanner will provide an Individually Managed Account (IMA) facility to its 130 authorised representatives after partnering with Implemented Portfolios and netwealth.
The IMA, called My Managed Portfolio Individually Managed Account Service (MMP), will cover superannuation and investments with MyPlanner stating it was launched after an extensive review of the market found no product that matched the group’s objective based advice model.
At launch MMP will use utilise Implemented Portfolios ETF Strategist capabilities with more managers to be added in the coming months with advisers able to blend funds and managers through Implemented Portfolios dynamic asset allocation capabilities
MyPlanner, Managing Director, Philippa Sheehan said the new IMA would give more scope to advisers working within an objective based model and followed overseas trends around the personalisation of advice and investments.
“If you look at financial planning trends overseas, the advice is becoming incredibly personalised, and whilst portfolios are tailored to the client, the portfolio management is being done with very efficient administration which keeps cost low and ensures returns are improved by focussing on controllable alpha like tax management,” Sheehan said.
“We believe we have come up with a solution that suits the ever changing advice needs of our clients and is in line with what we are seeing offshore. This partnership will further enhance our planners engagement with their clients who will ultimately have a deeper understanding of their financial position and how their money is invested.”
The partnership brings together three non-aligned advice and service providers with Implemented Portfolios, Managing Director, Santi Burridge stating his group shared the same ethos around client centred advice as MyPlanner and netwealth which is currently the largest non-institutional platform operator in the Australian advice sector.
