ASI boosts SMA service with planning firm recruits

Aberdeen Standard Investments has signed two more financial planning firms to its separately managed account (SMA) service as grows its presence in the market.

Queensland-based financial planning licensee Future Financial Services and WA-based advice firm Profusion Planning are the latest to join the SMA service, which manages 18 multi-asset, Australian equities and ETF managed portfolios for specific advice businesses and on public menus.

“After a decade of structural change, increased regulation and industry reform, many financial planners are finding it difficult to balance an increased compliance burden and still give their entire book of clients the individual attention they deserve,” said Aberdeen Standard head of wholesale sales Con Koromilas.

“Our separately managed account solutions give time back to advisers so they can service each of their clients the way they want to, with the trust and backing of ASI’s team of over 1,000 investment professionals, including 120 multi-asset experts.”

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ASI believes the Australian SMA market is a “significant growth opportunity” with research showing strong adviser demand for their use and indicating that half the industry could be using them by 2022.

“We’re expecting very strong growth in both the number of SMA portfolios we offer and our SMA funds under management because of our ability to provide wholesale advice firms with institutional-grade resources, risk management frameworks, and capabilities at institutional prices,” said Aberdeen Standard Australia managing director Brett Jollie.

ASI boosts SMA service with planning firm recruits
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