Hall Chadwick launches first managed account
Fortnum Private Wealth’s latest addition, Hall Chadwick QLD SMSF & Financial Advisors, has jumped on the managed accounts bandwagon, awarding Innova Asset Management a substantial mandate to run its first managed account offering.
The private label managed account solution would run on the Netwealth platform.
Hall Chadwick’s management said that the managed account structure aligned with the firm’s ethos of focusing on clients’ personal and financial goals, as it would provide clients with heightened control and flexibility in a cost-effective package.
The management team said that it selected Innova as they similarly place client goals at the “forefront of their investment process”.
It also cited Innova’s focus on managing investment risk as a reason for the partnership, saying that it would play a crucial role in managing investor behaviour through all conditions.
Innova was excited to work with Hall Chadwick for the same reasons.
“They understand clients and the harmful risk of market risk. While investment returns matter, behaviour matters more,” Innova managing director and co-chief investment officer, Dan Miles, said.
Money Management is currently running a survey to work out what is driving the trend toward managed accounts and who is winning big from it. Advisers who complete our survey here will be in the running to win a bottle of Penfolds Grange Hermitage.
AUTHOR
Hannah Wootton
Recommended for you
Vanguard and State Street have debated active ETFs, and whether they are the next vehicle for growth, or forever in the shadow of index-tracking funds.
The conversion of the Magellan Global Fund units has contributed to $0.7 billion in outflows for the fund manager in August.
Australia could see a rate cut by Christmas, according to AMP’s Shane Oliver, if consumer price index inflation falls faster than expected.
Ahead of her keynote address at the Women in Finance Summit 2024, Ella Baché CEO Pippa Hallas reveals the secrets to building a business empire that embraces disruption.
