In the three years since it added SMAs to its investment platform, Macquarie has increased its funds under administration to $1 billion, according to a statement by the bank.
The Macquarie Wrap managed accounts business has expanded since the bank reported its first half result to 30 September 2017, when the SMA business stood at $800 million.
That was up 47 per cent from Macquarie Wrap’s 30 March 2017 FUM for SMAs.
Macquarie Wealth Management head of wealth product Cameron Garrett pointed to the “streamlined and consolidated approach to portfolio management” that SMAs offer to advisers and their clients.
“For advisers, managed accounts offer greater efficiencies that enable them to focus on having more holistic conversations in order to deliver outcomes for clients,” Mr Garrett said.
