Multiport reaches milestone in Managed Accounts

Managed accounts specialist Multiport today announced it has reached $150 million in funds administered on its managed accounts service. This follows Multiport’s recent achievement of reaching $2 billion in funds under administration with its SMSF solutions.

Multiport is the only provider of managed accounts that can offer managed account services completely integrated with SMSF administration.

Multiport CEO John McIlroy said as the uncertainty of investment markets continues, managed accounts are becoming increasingly popular among investors and financial planners.

“With the FOFA reforms and ongoing market volatility causing many financial planners to look at ways to create or improve value for their clients, managed account solutions are being looked at more closely,” Mr McIlroy said.

There are a range of options via Multiport’s managed accounts service providing monitoring and reporting services to dealer groups and financial planners. These include Managed Discretionary Account (MDA) operator, custodian or administration services; through to traditional Individually Managed Account (IMA) services, as well comprehensive Unified Managed Account (UMA) solutions. These solutions also have flexibility with custodial and non-custodial arrangements.

“Managed accounts are a growing advice area for financial planners and their clients. They’re particularly attractive for planners as they can be tailored to suit the requirements and licensing structure of a financial planner’s business and deal with flexibility around custody structures and investment reporting. We’re expecting that the interest we’ve already seen in our managed accounts services to continue to grow,“ Mr McIlroy said.

Importantly, Multiport provides these managed account services completely integrated with its SMSF administration solutions. This is vital for providing an efficient solution for businesses that are involved in or see growth in the SMSF space.

“Financial planners and their licensees can leverage their brand and expertise in asset selection and allocation and combine that with Multiport’s professional administration and compliance services to provide a comprehensive service to their clients,” Mr McIlroy added.

For more information contact:
John McIlroy, Multiport (02) 9230-0177
Kelly Tullett, AMP (02) 9257-2700