Platform provider Netwealth has partnered with Beulah Capital to launch two private-label managed account services.
The Netwealth deal will allow Choice Capital and Ashfords Wealth Advisors to offer a suite of separately managed accounts (SMAs) to their clients, managed by Beulah Capital.
The new private managed accounts will be made available to clients representing more than $300 million in funds under advice.
Netwealth joint managing director Matt Heine said the accounts would deliver greater business efficiency and better client outcomes for Choice Capital and Ashfords Wealth Advisors.
"Both groups will also benefit from the investment expertise of Beulah Capital [which] continue[s] to work closely with boutique IFA groups wanting to develop and implement a unique investment proposition for their clients," Mr Heine said.
The deal brings the number of Netwealth private-label relationships to eight.
The major bank has announced additional charges of $525 million after tax in connection with increased provisions for its customer-related r...
The Commonwealth Bank has advised that it will begin a reimbursement process to current and former staff for lost wages from next week. ...
The major banks have seen their reputations significantly downgraded in an annual perception survey, with AMP placing last out of 60 Austral...