New portfolios developed with leading advice practice Coral Coast
AMP has partnered with leading Queensland advice practice Coral Coast, and Mercer, to create a new range of partnered managed portfolios.
The five new diversified risk-based portfolios, tailored to the specific investment needs of Coral Coast’s clients, are delivered through wrap platform MyNorth, with investment management services provided by Mercer.
The actively managed portfolios continue the expansion of MyNorth’s managed portfolio offer, which experienced 84 percent growth in assets under management (AUM) in 2020 – a key driver in the combined North platform surpassing $51 billion in AUM during the year.
The IndexPlus managed portfolio range and the MyNorth Sustainable Managed Portfolio, one of the first ESG based managed portfolios to be offered through a wrap platform in Australia, launched in 2020.
Shaune Egan, AMP’s Director Wrap products said:
“Our partnered managed portfolios are growing in popularity as more advice practices recognise the benefits of creating tailored portfolios for their clients, delivered through the highly efficient and cost effective MyNorth administrative platform.”
“The nature of the managed portfolio structure also provides transparency for clients, giving them ownership of the underlying assets in the funds, with visibility of performance metrics through regular and transparent reporting.”
“We’re continuing to invest in and expand our MyNorth managed portfolio range, with more new offers set to launch in 2021.”
Craig Armstrong, Coral Coast’s Managing Director said:
“The combination of a high-quality investment manager and wrap platform, with investments packaged through the efficiency and transparency of the managed portfolio structure, simplifies investment decisions for our clients.
“The portfolios combine passive and active investment strategies to optimise diversification benefits and manage risk for our clients, while MyNorth’s contra trading functionality allows flexibility to rebalance the portfolios without creating unexpected timing consequences, minimising volatility and eliminating time out of the market.”
Luke Fitzgerald, Mercer’s Wealth Management Leader said:
“Advice businesses are increasingly looking for customised investment solutions to support their teams in helping them achieve their clients’ objectives. By drawing on Mercer’s global expertise and research-based investment consulting capabilities, we were able to build these tailored portfolios together with Coral Coast to drive better investment outcomes for clients.”
About Coral Coast
Coral Coast has been providing professional financial advice from their Far North Queensland offices for 20 years. They’re focused on helping businesses and individuals achieve their financial and lifestyle goals and aim to develop long-term partnerships with our clients assisting them and their families in building, protecting and managing their wealth and lifestyle.
With Australian operations commencing in 1972, Mercer is a multi-national investment manager using specialised investment tools and strategies to provide robust and diversified portfolios for their clients. The team manages approximately $200 billion worldwide, with approximately $33 billion invested in Australia and New Zealand.