MyPlanner, which licenses more than 130 representatives nationally, launched the IMA Super and Investment service – My Managed Portfolio (MMP) Individually Managed Account Service – after finding a lack of existing solutions in the Australian market to support MyPlanner’s objective-based advice model.
“Objective-based financial planning requires a combination of structure and strategy advice in addition to a tailored investment programme to truly suit a client’s needs,” Philippa Sheehan, MyPlanner managing director said.
“If you look at financial planning trends overseas, the advice is becoming incredibly personalised, and whilst portfolios are tailored to the client, the portfolio management is being done with very efficient administration which keeps costs low and ensures returns are improved by focusing on controllable alpha like tax management.”
Santi Burridge, managing director of Implemented Portfolios, said the three groups share a passion for high quality advice.
“IP is very happy to be aligning the benefits of our distinctive IMA capability with a market-leading non-aligned licensee and Netwealth, Australia’s largest non-institutional platform operator,” he said.
Matt Heine, joint managing director at Netwealth said, “This is an exciting initiative for us and a great example of how our technology can be utilised in different ways to support new and emerging business models that are designed around client outcomes and engagement.”
MMP will initially utilise Implemented Portfolios ETF Strategist capabilities and more managers are planned to be added to the service in coming months to allow advisers to correlate specialist asset managers with the IP dynamic asset allocation (DAA) capabilities.
“By bringing together MyPlanner, Netwealth and Implemented Portfolios, we believe we have come up with a solution that suits the ever changing advice needs of our clients and is in line with what we are seeing offshore. This partnership will further enhance our planners’ engagement with their clients who will ultimately have a deeper understanding of their financial position and how their money is invested,” Ms Sheehan said.
At last week’s ifa Excellence Awards, Ms Sheehan received the award for Innovator of the Year (Individual) and Mr Burridge won Industry Thought Leader.
