Portfolio Partners ramps up retail focus
Portfolio Partners is aiming to combat the fierce competition faced by fund managers when seeking exposure to platforms and dealer group recommended lists by creating a new senior distribution role to target this sector of the market.
The group has signed-up former Centro Properties Group national retail distribution manager Bernadette Spiteri as head of retail sales to focus on strategies to increase retail inflows for the group’s key offerings in the retail space.
These funds are the Elite Opportunities Trust and High Growth Shares Trust, which have $100 million and $600 million respectively.
Spiteri joins the group’s Melbourne office next month, with the chief aim of building on the fund’s existing listings on the BT, Macquarie, Navigator and Skandia wrap platforms.
Before her time at Centro, Spiteri spent 12 years with BT Financial Group in a variety of roles, including heading up BT’s Melbourne and Brisbane offices.
“Portfolio Partners has ambitious plans to take its retail business forward and I look forward to being a part of that,” Spiteri says.
Portfolio Partners managing director Craig Bingham says the move will expand the group’s retail presence further, and follows retail inflows almost doubling over the financial year ending June 30 compared to corresponding 12 month period.
“We are delighted to welcome Bernadette to the team. [Spiteri’s] knowledge of the industry, together with her management and strategic skills, will see her make an exceptional contribution,” Bingham says.
Recommended for you
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
With many advisers preparing to retire or sell up, business advisory firm Business Health believes advisers need to take a proactive approach to informing their clients of succession plans.
Retirement commentators have flagged that almost a third of Australians over 50 are unprepared for the longevity of retirement and are falling behind APAC peers in their preparations and advice engagement.
As private markets continue to garner investor interest, Netwealth’s series of private market reports have revealed how much advisers and wealth managers are allocating, as well as a growing attraction to evergreen funds.
