Federation Alliance, the company behind the new platform, was formed by John Morrison, Stephen Reed, Jan Morrison and John (Monty) Grainger in partnership with Australian Unity.
Shares representing a 90 per cent interest in Federation Alliance will be offered to investors based on their usage of Federation Managed Accounts.
The remaining 10 per cent in equity will be indirectly shared between the four principals of Federation Alliance and Australian Unity.
Australian Unity Investments head David Bryant said the decision to partner with Federation Alliance was based on the four principals’ experience developing products at the “coal face” of the financial services industry.
“Our conversations with financial advisers highlight that they are very interested in non-aligned platforms, and we believe Federation Managed Accounts will appeal to such advisers,” he said.
“Offering a non-aligned platform that provides benefits to investors through shared ownership provides an attractive option for advisers and clients,” said Mr Bryant.
Mr Morrison said the intention is for the platform to provide managed fund, wrap and model portfolio capabilities – along with separate platforms for superannuation, non-superannuation and corporate superannuation.
Federation Managed Accounts will be administered by Linear Asset Management.