Netwealth overhauls investment menu
Platform provider netwealth has announced a major overhaul of its investment menu, adding 39 new investment options and removing 21 funds on behalf of advisers and dealer groups using the platform.
Netwealth executive director Matt Heine announced the overhaul for its Super Wrap and Investment Wrap menu offering, which he said would add "greater choice and range across Australian and global equities, fixed interest, property, and alternatives".
The platform had also reported $450 million of net flows for the 2011 financial year, which Heine deemed satisfactory considering the volatile market.
Netwealth will continue to use Standard & Poor's Fund Services as its provider of managed funds research, but has announced a number of other changes to come through in the coming months.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
