Boutique multi-disciplined business and financial advisory practice Partners Group has joined forces with Multiport to provide a unified managed account (UMA) solution for its client base.
The service, known as Adviser Portfolio Solutions Managed Account Service, combines an offering of seven model portfolios operating under a discretionary account service with administration of a wide range of assets held by client portfolios.
The solution offers five risk-based diversified model portfolios and also provides two equity-based model portfolios. The portfolios include income securities, listed shares, exchange-traded funds and managed funds.
Partners Group chief executive Chris McMahon said the firm intended to transfer a large part of its client base into the service.
“We have been searching for a better solution for our clients given the requirements of our higher net worth client base and their preference for direct investing,” McMahon said.
“We wanted a managed account service that had the flexibility to work with us to meet our needs. Multiport provided that.”
He said clients would also be able to hold assets in the service outside of the model portfolios, including shares, term deposits, managed funds, properties and a range of other assets.
The service could also add efficiencies to clients and accountants who administered self-managed superannuation funds (SMSF), he said.
Multiport chief executive John McIlroy said the UMA offered advisory practices the ability to provide a private labelled discretionary service to clients that could be operated efficiently while also providing for the administration of all other assets.
“There is no doubt that there is increased interest in the managed account space and this type of solution can be ideal for practices specialising with high net worth clients and SMSFs,” McIlroy said.
