A new capability has been added to IOOF’s managed account offering to include multi-asset models that combine direct equities with managed funds on its platform.
The expanded offering on IOOF’s Pursuit Select platform complements its existing Managed Portfolio Service (MPS) offerings already available on its exclusive version of BT Panorama and on Symetry Active, IOOF said in a statement.
IOOF said the evolution of MPS provides advisers the ability to offer clients an expanded range of investment choice, accessing its managed fund models and multi-asset models with lower brokerage costs.
IOOF general manager of distribution Mark Oliver said advisers are rapidly embracing the benefits of MPS.
“It’s helping them to create practice efficiencies, allowing them more time to spend with their clients to cover their broader financial goals and needs. That can only be good for their clients,” Mr Oliver said.
“As an experienced managed accounts operator with substantial scale, we are pleased to be expanding our established managed account solutions.”