Netwealth inks $1b deal with Stanford Brown

Netwealth inks $1b deal with Stanford Brown

Platform provider Netwealth will provide managed accounts services to the clients of boutique wealth management firm Stanford Brown.


Netwealth said in a statement that the new deal will see it provide Stanford Brown clients with managed account portfolios run by its internal investment committee.

"This is a very significant deal for Netwealth and validates the strength and flexibility of what we have developed and can offer the market," Netwealth managing director Matt Heine said.

"We are really pleased to be partnering with such a high calibre group and to be creating new and innovative services for their clients."

Stanford Brown head of private wealth, Vincent O'Neill, said the new deal will see the firm continue to grow.

"Stanford Brown's private wealth division has grown eight-fold in eight years to now manage $1 billion for its clients," Mr O'Neill said.

"We view the adoption of managed accounts as a key factor enabling similar rates of growth to continue well into the future."

Stanford Brown chief executive Jonathan Hoyle said managed accounts offer clients a "superior investment solution".

"There are three clear benefits – a more proactively managed portfolio, lower costs and better tax outcome," Mr Hoyle said.

"When choosing our new technology and platform partner, it was critical that they could provide the necessary functionality but also that their culture was aligned to ours."

Read more:

Aussie banks will remain strong: Moody's

Kinetic Super names new chief executive

MLC appoints general manager, advice

Future Super chooses OneVue for admin

Related Articles

 

Netwealth inks $1b deal with Stanford Brown
investordaily image
ID logo
promoted stories

Appointments

David Cullen

AMP appoints new group general counsel

Reporter

Matt Brown

Australian Unity hires former ANZ Wealth exec

Reporter

Deanne Stewart

First State Super announces new CEO

Reporter

Analysis

investordaily image

Corporate governance and advocacy in China

Therese Niklasson

Dug Higgins

The shifting LIC landscape

Dug Higgins

investordaily image

The perils of chasing niche infrastructure

Frithjof van Zyp