WEEKLY WRAP: PEOPLE, PRODUCTS AND COMPANIES: MLC launches consulting service for UHNW clients

by |

MLC launches consulting service for UHNW and smaller institutional clients

Ultra-high-net-worth (UHNW) clients and smaller institutional investors need sophisticated, tailored investment strategies, according to MLC’s innovative new consulting service called Portfolio Solutions.

The team has been established to help UHNW clients better construct their portfolios by offering tailored asset allocation and comprehensive stress testing of financial outcomes. The service is also available to smaller institutional clients and not-for-profit organisations.

Portfolio Solutions supports NAB and MLC-aligned advisers and expects to double the number of clients it provides tailored solutions to in 2013. MLC Investment Strategist Michael Karagianis leads the Portfolio Solutions team. He said:

“The Portfolio Solutions service applies sophisticated asset consulting techniques, historically available to larger institutions and used by MLC Investment Management for many years, to UHNW and smaller institutional clients.”

Wealthtrac launches outsourced back-office administration service for independent advisers

Finance and investment administration provider Wealthtrac, today launched the next stage of its expanded services, which is moving the group towards becoming a full service distribution and administration service for independent advisers.

The new service, developed in conjunction with Melbourne-based JC Consulting, is back-office administration outsource service, with staff in Australia and Thailand.

Wealthtrac Managing Director and CEO, Matthew Johnson, said the service would be particularly beneficial for sole practitioners and boutique advisory firms.

“Like all Wealthtrac products and services, JC Consulting Asia is designed to support the needs of the independent adviser and allow them to spend more time on the areas of their business that add the most value.

“This outsourced model was developed by Jason Cutrupi, a highly-experienced adviser and long-time supporter of Wealthtrac.   With continuing economic and regulatory pressures, we understand that advisers need to spend more time servicing clients and growing their business and less time on non-value add administration tasks. We saw what Jason had created for his own business believed the service would benefit other members, so we have created a package that is easily accessible for all IFAs.”

 

Financial advisers recognised through the 2012 Hillross Awards Program

Sydney based financial adviser David Heyworth, of Edney Ryan Wealth Management, has been named Hillross Adviser of the Year while Victorian regional practice Hillross Horsham has taken out Advisory Firm of the Year, at the Hillross Awards Program ceremony in Brisbane last night.

In a new category, Western Australia’s Perry Lelati of Pi3 has been awarded Hillross New Adviser of the Year.

The Hillross Awards Program recognises advisers and advisory firms across the country for their high levels of professionalism, wealth management expertise, customer service and business efficiency. For Hillross managing director Hugh Humphrey the awards are a chance to recognise the high standards of professionalism across the Hillross advice network.

“All our nominees have contributed the highest levels of service and quality advice to their clients, while contributing to the wider community and the profession as a whole,” Humphrey said.

Former United States Army Captain announced as Fidelity Worldwide Investment’s Chief Operating Officer for Australia.

Fidelity Worldwide Investment is pleased to announce the appointment of Eric Wang as Chief Operating Officer for Australia. Eric is an experienced strategist, with a strong operational background, who will add considerable depth to the executive team.

In a past life, Wang was a Captain in the United States Army for seven years, and led detailed planning operations in Bosnia and Germany.

He joins Fidelity from Sunstone Partners, a wealth management consultancy, where he was the Managing Director. Prior to this role, Wang spent six years at Perpetual Limited as Head of Group Strategy and the Group Chief Operating Officer. In these roles, he managed numerous complex projects spanning strategy, product development, operations, technology and logistics. During his tenure, Wang managed the implementation of Perpetual’s move to a single unit registry system, managed the operations and service business through the launch of five new asset class capabilities and oversaw the move to a single premises.

He joined Perpetual from Bain and Company, where he worked as a management consultant for four years in the wealth management arena, advising a range of leading Australian and International businesses.

Melbourne‐Sydney route chosen for Future2’s fourth annual cycling fundraiser; AMP Financial Planning takes lead sponsorship

A 1230 km route from Melbourne to Sydney has been chosen for the 2013 AMP Financial Planning Future2 Wheel Classic – the foundation’s annual cycling fundraiser. AMP Financial Planning is Gold Partner for the second year. Interest is high among would‐be Wheel Classic cyclists in the financial planning community.

Future2 aims to raise at least as much as last year’s record $140,000, over two thirds of which was from individual donations in support of the cyclists. The money raised brings new opportunity and hope to disadvantaged young Australians through Future2’s Make the Difference! grants which are made to community not‐for‐profits.

The 9‐day cycle ride from Melbourne to Sydney, will take in Canberra and the regional centres of Bendigo, Shepparton, Wodonga, Jindabyne and Wollongong. The ride starts in Melbourne on Saturday 5 October and finishes in Sydney on Sunday 13 October.

AMP Capital expands global property portfolio with Boston core office acquisition

AMP Capital’s Global Direct Property Fund (GDPF) has purchased a core office building in Boston, Massachusetts for US$17.6 million. This follows the acquisition of a Paris office property during 2011 and is the fund’s first US acquisition since the Global Financial Crisis.

Two Liberty Square is a historic B Grade office building centrally located in the most established and densely built area in the Boston financial district, poised for near term growth and long term stability. The iconic building consists of over 64,000 square feet over 11 storeys and is currently 81% occupied.

AMP Capital Fund Manager Tim Fallet said the property provides exposure to what has traditionally been a tightly held investment market.

 

WP forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Name (required)
Comment (required)
By submitting, I agree to the Terms & Conditions