netwealth, Sterling form new partnership


By Megan Tran

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Non-institutional platform provider netwealth has teamed up with Sterling Managed Investments to provide clients of dealer group Futuro Financial Services with more access to diversified portfolios.

Netwealth joint managing director Matt Heine said the deal was an extension of the already existing long-term partnership with Futuro and would see the launch of new managed portfolio options overseen by investment manager Joseph Palmer & Sons.

“It’s fantastic that another successful licensee continues to embrace the many benefits of managed accounts for both advisers and their clients,” Heine said.

“Futuro clients also benefit from the investment expertise of Joseph Palmer & Sons, who continue to work closely with many wealth management groups wanting to develop and implement a unique investment proposition for their clients.”

Futuro managing director Paul Kelly said the launch of multi-asset and Australian equities model portfolios on the netwealth platform under the Sterling brand was a promising development due to Joseph Palmer & Sons’ experience in the space.

Heine added netwealth had recently exceeded $13 billion in funds under management, following strong inflows from independent advisers and wealth managers.

“We continue to make significant investment into our technology and services and are progressing a number of exciting new initiatives that we hope to roll out to advisers during the early part of the year,” he said.

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