Powerwrap has entered into a platform agreement with Wattle Partners Private Wealth Managers, a private wealth advisory firm for high net worth (HNW) investors.
The agreement would have Powerwrap provide Wattle Partners’ investor clients with platform administration and reporting services over a range of asset classes, including domestic and international listed securities and fixed income, model portfolios and alternative assets.
Will Davidson, Powerwrap chief executive, said Wattle Partners needed alternative asset solutions for its HNW investors and this was the company’s unique strength.
“Our platform provides the widest range of alternative assets for investors in the Australian market, and we can provide consolidated reporting across all the assets in their portfolios,” Davidson said.
Jamie Nemstas, Wattle Partners director, said the Powerwrap offering would enable the firm to deliver a superior, more holistic service to its investor clients.
“We were looking for a platform partner that was aligned to the needs of our HNW clients, could deliver a high level of service and provide access to a wide menu of alternative investments. It made Powerwrap the obvious choice,” Nemstas said.
A number of new adviser groups had been added to the Powerwrap platform over the past months including Suetonius Wealth Management, Sanlam Private Wealth, Newport Private Wealth, Consilium Advice, Premium Advisory, SBA Advice and Lucerne.
Wattle Partners was based in Melbourne and had been operating since the 1990s.