The domestic managed account market will evolve towards customisation in the same way that the market in the US has according to Blackrock head of model portfolio solutions, Josh Persky.
Speaking at
Professional Planner‘s Best Practice Forum recently, Persky said the trend to customisation is highly likely to “break out” at both a product and service level if it follows the same pattern as that reported by the Blackrock team in North America.
On a product level, he explained, the development will lead to managed accounts being tailored much more acutely to the particular needs of the individual.
“We’re talking hyper personalization, very much moving from a one size fits all to a one size fits one,” Persky said.
WealthO2 launches new MDA to unite top managers
WealthO2 launches new MDA to unite top managers
The platform provider has announced the launch of an MDA with an aim to bring Australia’s top managed accounts together.
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The tech and service company says its new account makes it easier for advisers to access the expertise of big-name investment managers including BlackRock, Zenith, Evergreen and Morningstar.
“It’s akin to a service equivalent SMA where the adviser is recommending the MDA service and the professional manager to their client, compared to the often higher cost equivalent SMA product,” WealthO2 managing director, Shannon Bernasconi, said.
FinClear announced on Tuesday the addition of BlackRock’s iShares Enhanced Strategic Model Portfolios to its Professionally Managed Portfolio platform.