According to Matt Heine, Netwealth joint managing director, this partnership will make Zenith models more available to their advisers and clients, especially since the company has worked closely with Zenith on delivering private label managed accounts to boutique wealth management groups.
“Whilst our recent focus has certainly been geared towards the very strong growth of our private label relationships, it’s important that we continue to add new professional managers and options to our menu to ensure the range of options remain relevant to both advisers and clients,” Mr Heine added.
Zenith’s joint managing partner David Wright also commented on this development, saying that the company is pleased to offer its managed account benefits to a wider range of advice businesses.
“With the rapid rise of interest in managed account portfolio solutions, we have experienced significant demand from advisers already for our Elite Blend portfolios within a managed account structure,” Mr Wright concluded.
Netwealth is expected to add more managers to its managed account service within the year.