Macquarie Wrap accounts reach record FUA
Macquarie Wrap’s consolidator series of accounts has reached a record $4bn in Funds under Administration (FUA), off the back of adviser take-up rate.
Macquarie said the two-fold increase from the previous year was the result of value and transparency being key uptake factors for advisers as a result of the future of financial advice (FOFA) reforms.
“Macquarie Wrap has a long history of working with advisers to develop products that help them deliver value to their clients, and this has never been more important to them than in a post-FOFA environment,” Macquarie Adviser Services, head of platforms Justin Delaney.
“Equally, advised clients have increasingly shown interest in the level of transparency offered.”
Macquarie said the consolidator series was developed to provide clients with value, choice, flexibility and transparent pricing options when choosing an investment solution.
Since its launch more than two years ago, uptake has reached over 1750 advisers and more than 350 dealer groups.
“Pricing remains, as always, important to both adviser and their clients,” Mr Delany said.
“Simply put, the Consolidator Series’ portfolio pricing structure includes a competitive administration fee and no adviser rebates and commissions.”
“These attributes directly address the current expectations of adviser and their clients.”
‘You had an expectation that has changed’: AMP
EXCLUSIVE AMP’s new advice executive has explained his position on BOLR, pract...
FPA welcomes new Senate fintech committee
The Financial Planning Association of Australia has backed the establishment of ...
AFCA to name and shame from October
The Australian Financial Complaints Authority (AFCA) will begin naming firms in ...