Macquarie Wrap grows FUA
Macquarie Wrap has reached $4 billion in funds under administration (FUA) for its Consolidator Series of investment, superannuation and pension accounts.
Since the platform's launch two years ago, the Consolidator Series now services more than 1750 financial advisers and more than 350 dealer groups, according to Macquarie.
Overall FUA for Macquarie Wrap sits at more than $34 billion, Macquarie added.
Justin Delaney, Macquarie Adviser Services head of platforms, said the need to deliver value and choice to clients had never been more important than in a Future of Financial Advice (FOFA) environment.
He said the absence of adviser rebates and commissions — and having a competitive administration fee — met the current expectations of advisers and clients, and had seen uptake of the platform increase in the last year.
In June, Macquarie added built-in fee disclosure statement capabilities to its platform in an effort to streamline the administrative responsibilities of advisers in the lead-up to 1 July regulatory changes.
Recommended for you
There is one specific risk that is a significantly higher concern for financial services directors compared to companies overall and is impacting their risk appetite, according to the AICD.
Global fund managers are shunning bonds, with the asset class seeing the largest drop in allocations in more than 20 years.
Australian Ethical has seen its funds under management reach $10 billion, driven by organic customer growth and superannuation contributions.
Financial advisers will have access to private equity investments run by WTW for the first time as it launches a pooled fund to provide savers with access to traditionally institutional assets.