The newly restructured Macquarie Private Wealth will utilize a television campaign to promote its wealth management and advice offering to an even broader client base.
Designed to spread the message on the scope of the offering, Macquarie Private Wealth’s head of strategy Carloyn Tregarthen says the restructure is the culmination of client research gathered over an 18-24 month period which supported a client offering that made the most of stockbroking services, superannuation, tax, portfolio management and advice.
“Under the new Macquarie Private Wealth structure, it is a far broader offering so you still have superannuation and stockbroking as well as covering broader financial needs,” she says. “This is the way we plan to compete.”
Formerly known as Macquarie Financial Services, the restructured business aims to address a private client’s complete investment needs in one service, integrating services such as stockbroking, superannuation and private portfolio management.
As part of the restructure, Macquarie has also launched a Managed Portfolio Service, a discretionary investment product where investors can delegate the day-to-day investment and administration decisions to their investment manager. The minimum investment for this product is $100,000.
Tregarthen says initially the Managed Portfolio Service will be available to clients of Macquarie Private Wealth, but the plan is to widen its distribution in the future.
Currently Macquarie Private Wealth has some 232,000 clients. Tregarthen says with no particular client profile in mind, the plan is to expand the businesses client base to include people with different needs.
