MLC & NAB Wealth to launch new wrap
MLC & NAB Wealth will launch a new wrap platform early next year that will tap into the sophisticated and high-net-worth (HNW) client segments.
The group stated that MLC Wrap would leverage off the capabilities of the Navigator and MasterKey Custom platforms — incorporating Navigator’s technology, service capabilities and separately-managed accounts (SMAs), along with MasterKey Custom’s portfolio management tools and fully-integrated self managed super fund (SMSF) offering.
Group executive of MLC & NAB Wealth Steve Tucker said the wrap would cater for sophisticated and HNW investors — “a hotly contested segment of the wealth management market”.
Features of the new wrap will include more than 350 managed funds, SMAs, ASX-listed shares and other listed securities, as well as cash and margin lending products.
The group stated that there would also be a SMSF solution enabling the setting up and ongoing management of a client’s fund.
“MLC Wrap will support advisers to run efficient businesses, and enable them to access a broad range of investment solutions from a platform that is free from the conflicts of volume-related payments and commissions,” said Tucker.
“Platforms are central to an adviser’s client service proposition, and MLC will continue to innovate and be a market leader in this space.”
The group stated that the wrap would offer a “simple, competitive and transparent” pricing structure across superannuation, investments and SMSF products, and would offer advisers a flexible range of service fee options.
Tucker said that the group had focused on consolidating the platforms since its acquisition of Aviva, and the Navigator and MasterKey Custom platforms remained on sale.
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