New private label deal for Netwealth

In a statement, the platform provider said Stanford Brown is the latest group to launch Netwealth’s private label version of its managed account service.

Netwealth joint managing director Matt Heine said, “It’s fantastic to see the strong managed account momentum continuing.

“Increasingly, advisers are wanting an efficient way to implement actionable investment insights across their total client base, from small balance clients to high net worth clients looking for sophisticated investment outcomes.”

Stanford Brown chief executive Jonathan Hoyle said there are many benefits to using managed accounts.

“The feedback from our clients to date has been extremely positive, particularly around our ability to react quickly to changing market conditions and to better managed downside risk,” he said.

“Stanford Brown is now in talks with a number of financial advisers regarding managing their client monies. Many financial planning and accounting firms can’t or don’t seek to be specialist money managers and are seeking better resourced third party options.”

Read more:

Renzi resignation to 'constrain' markets

Global regulators to adopt AI functionality

Australian GDP growth slumps to 1.8%

NAB Asset Servicing launches carbon tool

AMP Capital real estate funds raise over $1bn