IOOF dealer group announces new managed account service

A new managed accounts solution, Managed Portfolio Service, has been made available on IOOF’s Asset Administrator platform, according to a statement by Lonsdale.

The service, which will be actively monitored and maintained, was created to assist advisers in delivering “value to their clients with flexible, high-quality portfolio construction and implementation”, the statement said.

Commenting on the launch, Lonsdale chief executive Mark Stephen said the “key benefit” of the service would be minimising advisers’ time spent on administration to facilitate more “quality time” with clients.

“The MPS service was developed in collaboration with advisers and comprises portfolios designed by leading managed account portfolio provider Lonsec Investment Solutions,” Mr Stephen said.

“This development reflects Lonsdale’s ability to leverage its scale and the expertise of best-in-class providers to deliver quality, scalable and efficient solutions to our network.”