Netwealth strikes platform deal with Sydney boutique

According to a statement, Netwealth is teaming up with Cardena Private Wealth, a boutique wealth management firm that previously traded as Arrive Wealth Management Sydney.

Netwealth joint managing director Matt Heine said the firm has been working with Cardena Private Wealth for some time and is pleased to be offering their clients a range of multi asset, objectives-based models that utilise dynamic asset allocation to achieve their set objectives.

“Historically, the implementation of these models could not have been achieved under a traditional advice framework where SOAs (statements of advice) and ROAs (records of advice) are required for each rebalance or asset class tilt,” Mr Heine said.

“We are seeing the industry undergo a number of major structural changes which have led to a significant shift in the use and growth of managed accounts.”

Mr Heine further added that Netwealth will be launching another five private label managed accounts in the coming months on top of the 11 it currently supports.

Cardena private wealth director Jonathan Kilborn said the firm has spent the last couple of years reviewing the market and evaluating the various managed account options available.

“We are really pleased with the solution we have designed in conjunction with consultants Intama and which Netwealth has been instrumental in developing,” he said.

Netwealth strikes platform deal with Sydney boutique

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Last Updated: 20 March 2020 Published: 10 November 2016