Cardena partners with Netwealth
Cardena Private Wealth has partnered with non-institutional platform provider, Netwealth, following its partnership with Fortnum Financial Advisers last week.
Cardena went live with a new private label this week and previously traded as Arrive Wealth Management Sydney.
Cardena director, Jonathan Kilborn, said the firm had spent the last couple of years reviewing the market and evaluating the various managed account options.
"We are really pleased with the solution we have designed in conjunction with consultants, Intama, and which Netwealth has been instrumental in developing," he said.
"We have also been actively speaking with our clients about the significant benefits of managed accounts and the feedback has been extremely positive, particularly around our ability to effectively react to changing market conditions and managing downside risk."
Netwealth joint managing director, Matt Heine, said Netwealth was pleased with Carden's multi-asset and objective based model offerings as they utilised dynamic asset allocation to achieve their set objectives.
"Historically the implementation of these models could not have been achieved under a traditional advice framework where SOAs [statement of advice] and ROAs [return on assets] are required for each rebalance or asset class tilt," Heine said.
"We are also seeing the industry undergo a number of major structural changes which have led to a significant shift in the use and growth of managed accounts."
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