Netwealth and GPS Wealth strike platform deal
Non-institutional platform provider Netwealth has launched its first private label managed account platform with dealer group GPS Wealth.
According to Netwealth, the deal will provide GPS Wealth's advisers and clients access to a range of nine models which make up the CARE investment program.
Commenting on the deal, GPS Wealth managing director Graham Evans said the dealer group is continuing to develop and it is "paramount to support practices with the best possible tools and investments" to provide consistent advice for its clients.
"Netwealth has impressed us with their state of the art platform technology, flexibility and ability to support our key managed account rage across both superannuation and investment," Mr Evans said.
"GPS is an independently owned group, and it is our goal to be aligned with like-minded businesses that are at the forefront of innovation and change and have the systems to support us as we develop."
Netwealth also reported it has experienced its largest year of growth, increasing funds under management by $1.96 billion in the past financial year, with FUM now at $7.6 billion.
"We are really pleased with the growth of FUM which we believe is a reflection of our focus on delivering great technology which is supported by a great service at a competitive price," Netwealth joint managing director Matt Heine said.
"Our recent award of winner of 'Overall User Satisfaction' with [the] platform from Investment Trends for the third consecutive year further supports our continued strong commitment to the IFA market," he said.
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