OneVue inks trio of white labels

10-Feb-2017

By Leanne Abbas

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OneVue has announced white label deals with three wealth management businesses for tailored versions of its Fund.Exchange platform to enhance practice performance.

Independent advisers MGD Wealth and Prosperum Wealth, as well as a “profit for member organisation” that OneVue declined to name, have signed deals that involve running their own model portfolios as managed accounts.

OneVue’s Fund.Exchange platform will allow the three businesses to connect fund managers and financial planners more directly, which will see faster turnaround times and lower costs for transactions, the firm said.

OneVue executive manager for wealth management services Matt Lawler told financialobserver the firm worked closely with independent advice groups, which had more autonomy in deciding objectives for their business and clients.

“OneVue’s technology can support a range of solutions to help advice groups achieve their objective,” he said.

“Specifically, OneVue’s managed account solution is allowing advisory firms the flexibility to build their investment philosophy with greater freedom, coupled with the back office administration efficiency provided by OneVue.”

Commenting on the future of the platform market, he said an increasing number of licensees and advisers wanted to establish model portfolios within a managed account structure, in particular separately managed accounts (SMAs).

“The key drivers behind this are to better deliver on the promises made to clients, the greater efficiencies this structure affords them and the ability to control margins both of the business and of the end cost to the consumer,” Lawler said.

Queensland-based MGD Wealth welcomed the opportunity to leverage the Fund.Exchange to deliver benefits to clients, said chief executive John Barton.

“We have a clear strategic plan to grow MGD Wealth both in Queensland and along the eastern seaboard,” he said.

“To underpin this growth we need a portfolio administration business that offers competitively priced, quality client service outcomes.

“In addition we needed a partner that supported our internal model portfolio execution through a series of unitised implemented portfolios.”

Prosperum Wealth managing director Scott Brouwer added his boutique advisory firm had found a fresh approach in OneVue’s platform offering, which would deliver efficient portfolio solutions to its clients.

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