Boutique practice partners with MDA provider
Queensland-based boutique advice practice Bennett & Co Financial Planning has announced a partnership with Managed Accounts to offer MDAs to clients.
In a statement, the practice said the new offering will “add greater value to servicing $160 million funds under management within the firm’s superannuation, financial planning and portfolio management accounts”.
Bennett & Co managing director Richard Bennett said offering MDAs to clients was critical to the business’ ongoing plans.
“The MDA service is key for our future. Streamlining our investment administration, management and advice capabilities is planned to deliver powerful benefits for our clients,” he said.
“Our team can move its focus from administration tasks and instead deliver the value add our clients are looking for in a fully integrated portfolio management and financial planning scenario.”
Managed Accounts head of distribution Tony Nejasmic said that there was a growing trend for independent advice practices to offer managed accounts but not to apply for their own MDA licence.
“We are excited to be partnering with Bennett & Co to create a point of differentiation and elevate their business, whilst delivering best outcomes to their clients,” he added.
“The reputation of our MDA service is continuing to make positive inroads into the IFA and wealth management market. We are experiencing an uptake in firms implementing an MDA option within their business.”
Former NAB adviser charged by court
An adviser formerly aligned with NAB has been charged with two offences of obtai...
Step-by-step guide to survey your customers
Please use the following step-by-step guide to share the ifa Client Experience S...
Advisers to ‘name and shame’ instos over commissions
Financial advisers across Australia are bankrolling a united effort to challenge...