Austock Asset Management (AAM) has forged a partnership with Investment Administration Services (IAS) to launch a managed account service.
The Professional Portfolio Service offers financial advisers and their clients direct ownership of a customised portfolio of investments that is actively managed by AAM.
The service provides investors with all the tax benefits of direct share ownership, professional portfolio management with three investment options, and comprehensive online reporting.
The partnership will enable AAM to take advantage of the huge growth opportunity emerging in the Australian managed account market, AAM managing director Alan Sheen said.
"Partnering with IAS is a significant step toward providing clients with transparent and professionally constructed managed accounts," he said.
IAS looks forward to jointly providing the benefits of the new service to the AAM client base, IAS head of distribution David Heather said.
