Russell chooses netwealth
Platform provider, netwealth has launched a key partnership with Russell Investments which will see it providing platform services to investors and members of the newly-created Russell Investments – Wealth and Super Series.
The two companies confirmed that as part of the agreement, Netwealth would migrate more than $850 million across to the new platform offering, including $200 million which had already been transitioned.
The announcement said Russell Investments would remain the investment manager of the assets on the new platform which would also provide advisers and their end clients with access to term deposits, an integrated cash option and multiple insurance options.
Commenting on the arrangement, Russell Investment Private Client Services managing director, Siva Sivakumaran said the company’s decision had been largely driven by adviser feedback.
“Independent financial advisers have a very high regard for the range of multi-asset solutions offered by Russell Investments but we needed to make it easier for advisers to do business with us,” he said.
Russell Investments said it had communicated with the 1,500 individual investors moving across to the new platform with the transition of assets expected to occur on or around 1 April.
Recommended for you
Shaw and Partners’ new national head of private wealth believes the biggest challenge for financial advisers right now is being able to deliver efficient advice delivery amid a complex regulatory environment and growing investment universe.
Global equity manager Orbis Investments has appointed a head of marketing from Capital Group as it becomes the latest manager to target advised retail investors.
While Australia prepares for the $3.5 trillion intergenerational wealth transfer, two female advisers have discussed why women may be detracted from seeking advice and the impact of the gender imbalance in the industry.
ETF provider Betashares has launched a global bond ETF as investors pour billions into cash and fixed income ETFs.
