Boutique dealer group Omniwealth has signed up independent research house AltaVista to provide exchange traded fund (ETF) help with its model portfolios.
Under the agreement AltaVista will work with Omniwealth’s investment committee to deliver the group customised ETF model portfolios based on research driven asset allocations.
Omniwealth senior financial adviser Andrew Zbik told ifa the deal enables Omniwealth to “create a model portfolio that looks at the underlying constituents of all the ETFs in that portfolio, so we can do a holistic overview of what the clients are investing in looking at sectors, geography, and asset class out of a portfolio of ETFs.”
Overall asset allocation decisions are still made in-house by Omniwealth but the arrangement with AltaVista will help the group to identify the ideal underlying ETFs, he added.
Omniwealth managing director Matt Kidd told ifa the fact AltaVista are independent and specialised was part of the appeal, and that the firm’s “enthusiasm and track record were very appealing”.
“We haven’t got someone in-house having to spend lots of time on the ETFs we mandate; we give [AltaVista] a mandate and they research which ETFs bolt into that mandate.” The model portfolios are held on the netwealth platform, he added.
Michael Turner, head of sales and corporate development at AltaVista Research, said the need to build scale into advice businesses and deliver a Future of Financial Advice-friendly solution drove how AltaVista structured their recently expanded ETF Model Portfolio service offering.
“Omniwealth’s customised approach maximises the value we can add to ensure we cater for their requirements at client, adviser and investment committee levels,” he added.
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