Netwealth has announced it will offer platform services to investors and members of an asset manager’s newly created platform.
According to a statement, Netwealth will migrate more than $850 million across to Russell Investments – Wealth and Super Series.
Russell Investments will remain the investment manager of the assets on the new platform, which will also provides advisers and their end clients with access to term deposits, an integrated cash option and multiple insurance options.
“This is a very compelling offer for the Australian IFA market,” said Netwealth joint managing director Matt Heine.
“The new platform combines Netwealth’s market leading technology with Russell Investments’ award-winning multi-asset fund range.”
Siva Sivakumaran, Russell Investments managing director, private client services, said the partnership came in response to feedback from financial advisers.
“Independent financial advisers have a very high regard for the range of multi-asset solutions offered by Russell Investments. But we needed to make it easier for advisers to do business with us,” he said.
“This move follows a detailed review of platform options in the Australian marketplace. It was clear that Netwealth is very focused on providing innovative technology and is not only keeping pace with the industry, but leading it.”
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 10:00CFS ‘retained’ adviser commissions: RCBy Killian Plastow and Tim Stewart
- 09:55Suncorp urged advisers to maintain commissionsBy Jessica Yun
- 09:50Hostplus spent $260,000 on tennis ticketsBy Tim Stewart
- 14 Aug 2018RC challenges NAB on ASIC interactionsBy Killian Plastow
- 14 Aug 2018Judgement issued in DomaCom SMSF appealBy Miranda Brownlee
- 14 Aug 2018Hub24 agrees to distribute Challenger annuitiesBy Reporter
- view all