MLC upgrades MasterKey Custom to MLC Wrap
Clients within MLC's MasterKey Custom product have been upgraded to the company's new full service MLC Wrap platform.
Confirming the move this week, MLC Investment Platforms Executive General Manager Michael Clancy said MLC Wrap incorporated MasterKey Custom's portfolio management tools and fully-integrated self-managed super fund (SMSF) offer as well as Navigator's market-leading technology, service capabilities and separately managed accounts.
"Once we had launched MLC Wrap, enabling MasterKey Custom clients to benefit from MLC Wrap's features and benefits was a key priority," he said.
"By moving to MLC Wrap, MasterKey Custom clients will benefit from greater investment choice, improved account functionality and a more competitive fee structure," Clancy said.
He said the upgrade had resulted in the migration of 30,000 clients and $9 billion in funds under management to MLC Wrap.
Recommended for you
Financial planning technology provider GBST has completed a significant upgrade of its Composer platform for its APAC clients.
Intelliflo has been acquired by global investment firm Carlyle for $200 million, stating it wants to accelerate the software firm’s growth in Australia.
Asset and wealth manager Prime Financial Group is looking to M&A and technology for future growth after growing its FUM by 58 per cent in FY25.
Centrepoint Alliance, the third-largest advice licensee, has reported 40 per cent growth in its managed accounts business, but profits fell by a third.
