Boutique financial planning company Henderson Maxwell has committed to a longer-term arrangement with Investment Administration Services (IAS) following a review of all managed account providers across the market.
The deal would see Henderson Maxwell continue to use IAS for the delivery of the Henderson Maxwell Managed Account Service for at least a further five years, Henderson Maxwell chief executive Sam Henderson said.
“With nearly three years’ experience under our belt and well over $100 million in the Henderson Maxwell Managed Account Service, we thought it prudent to ensure we were the using the best provider in the market and one that was meeting our current and future needs,” Henderson said.
“IAS was the clear leader in the market in our view, right across the criteria we assessed.
“These included a number of items, including assets supported, ability for Henderson Maxwell to manage our portfolios, including trade execution through our broker of choice, technology across the investment management, adviser and client experience, delivery of the service and a fee structure that is cost effective.”
IAS head of distribution David Heather said the group welcomed the deal with Henderson Maxwell.
“We have implemented significant changes to the breadth of our solution, our technology and processes over the past two years and having an external benchmark such as this is great feedback,” Heather said.
Earlier in the month, IAS said funds under administration for the private label discretionary portfolio services it operated exceeded $650 million.
The group’s other clients include Financial Clarity, Paradigm Wealth Management, Beulah Capital, Futuro and Tynan Mackenzie.
“In contrast to off-the-shelf separately managed account products, IAS creates a tailor-made solution for each intermediary, including portfolio design, client fee structure and branding,” Heather said.
