John Nicoll, national head of sales at Zenith, has taken up a new role at portfolio construction and consulting company InvestSense.
Nicoll spent 13 years at the research house until March 2023 and previously worked at Macquarie Group and real estate consultant Property Investment Research.
At InvestSense, he will take up the role of distribution executive, focusing on managed account solutions. This is an area he has expertise in as he played a role in establishing and distributing Zenith’s managed account business, which includes customised accounts, responsible investment portfolios and dynamic ETF portfolios.
InvestSense, which has $2 billion in assets under management and founded in 2014, is a multi-asset managed account specialist with portfolios that include direct Australian equities, ETFs and managed funds.
It offers diversified managed account portfolios, a range of Better World portfolios that focus on ethical, sustainable and impact investing and bespoke solutions for financial planning groups.
Paul Carrington, director and distribution executive, said the business is seeing greater interest from financial advisers in managed account offerings.
“His expertise in the managed accounts space and extensive industry experience will be invaluable as we continue to provide differentiated solutions to investors through financial advisers.
“Managed accounts are witnessing a surge in adoption across the industry due to several compelling reasons. Financial advisers are increasingly seeking investment solutions that not only fulfill compliance obligations but also energise their clients’ portfolios.
“Managed account structures allow for swift portfolio changes in response to market volatility, while investors benefit from greater engagement as all assets within the portfolio are visible via the platform.”
Earlier this year, it was announced funds under management in managed accounts have increased to $144.5 billion as of the end of 2022. This was up from 9.8 per cent in the previous year.
According to the FUM Census by the Institute of Managed Account Professionals (IMAP) and Milliman, managed accounts reported over $10 billion of inflows in the six months to 31 December 2022.
