ING places platforms under new name
INGwill re-brand its wrap services across its business under a single name, PortfolioOne, after relaunching the products to its internal and external adviser clients later this year.
The move comes after ING struck a deal in late March withMacquarie Investment Managementto provide outsourced systems and administrative functions for ING’s wrap offerings.
Under the deal Macquarie will take on the administration of the ING wrap, while ING itself will retain control over the product’s branding and marketing along with its role as responsible entity.
ING says the new name will replace Ausvest, as the platform is known toRetireInvestadvisers and mywrap for advisers inTandemand outside the ING group.
According to ING, part of the relaunch will include a series of enhancements with improved online functionality, better reporting, a broader range of managed investment options, the introduction of dividend reinvestment plans and the introduction of a badged version of Macquarie’s Cash Management Trust for the non-superannuation offering.
ING marketing executive director Ross Bowden says the renaming is part of ING’s push to make the platform more competitive in the market and ties in with the group’s mid-range platform, OneAnswer.
The renamed wrap will also be pitched at clients with over $100,000 of investable wealth and who actively manage their portfolio with the assistance of a professional adviser.
AUTHOR
Jason Spits
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