‘North Blend’ supports advice practices who want to tailor model portfolios realise the practice efficiency and client improvements from managing a model portfolio solution
The latest Blend portfolios bring together BlackRock’s multi-asset investment expertise and global custom model portfolio technology with Lonsec Investment Solutions’ investment manager research and selection capabilities.
North is the only platform in Australia to offer this range to advisers with unique technology to support the North ‘Buy, Badge, Build and Blend’ capability.
North is announcing the evolution of its model portfolio offering with its new ‘Blend’ capability, as the first in a series of enhancements aimed at democratising access to model portfolios for advice practices large and small.
For advisers who have traditionally been left out when it comes to accessing model portfolios, North is helping to bridge the gap with a solution that, in a market-first, means asset customisation of a model portfolio can now be realised at the advice practice level.
Expected to be the first of many, this new ‘Blend’ opportunity will appeal to those advice practices who want to generate efficiencies, but don’t want to have a full tailored solution.
Announced today in collaboration with BlackRock and Lonsec Investment Solutions, the new series highlights the market-leading customisation of North as a contemporary platform for advisers, with North uniquely placed with its technology to deliver the ‘Blend’ capability.
The latest portfolios use BlackRock’s multi-asset investment expertise and global custom model portfolio technology, together with Lonsec’s investment manager research and manager selection capabilities to deliver portfolio customisation at scale to advice practices.
Breaking down traditional barriers to adoption
Leveraging the portfolio construction expertise of two of Australia’s leading investment managers, North Blend is available to all advice practices directly and exclusively through North. By helping an adviser bring their investment strategies to life, it addresses many of the traditional barriers to adoption – including personalisation, incumbency and scale.
Advisers will have access to portfolio performance tracking and dedicated content support allowing them to monitor their holdings, performance, and access trade notices and market commentaries that can be white-labelled for their client base.
Tailored with ease
North has seen a 50% increase in advisers using MyNorth model portfolios over the last two years, with North now being the third largest and fastest growing managed account platform provider in the market with over $20 billion in funds under management.
North Blend offers eligible advisers the ability to tailor the portfolios to meet the needs of their advice practice within agreed guardrails.
The new series follows the introduction of existing client account level asset customisation launched together with BlackRock and Lonsec last year.
Katie Petering, Head of Investment Strategy, BlackRock Australasia said:
“We are delighted to continue our collaboration with AMP and Lonsec through the launch of tailored model portfolio solutions on the North platform.
“Drawing on our 30+ years of experience in managing multi-asset portfolios and global technology for customising model portfolios, this collaboration enables advisory practices to tailor highly sophisticated managed accounts to suit their end-clients’ investment preferences– something that was previously out of reach.
“As pioneers of model portfolios in Australia, we are excited to continue innovating to democratise access to these portfolios and accelerate the adoption of managed accounts in the industry.”
Nathan Lim, Chief Investment Officer at Lonsec Investment Solutions said:
“We are thrilled to work with AMP and BlackRock to bring this solution to the Australian adviser market. This new managed portfolio solution will enable practices using North to create a suite of tailored portfolios – a first-of-its-kind solution to be offered by an Australian platform.
“The Blend portfolios will be supported by Lonsec Investment Solution’s unrivalled manager selection and consulting expertise, as well as our broader end-to-end managed account capabilities supporting licensees, financial advisers, and their clients. We expect this solution will enable more advice practices to be able to reap the benefits of managed accounts for their businesses and clients.”
David Hutchison, AMP’s General Manager of Managed Portfolios and Investments said:
“Not all advice practices want an off-the-shelf or full-tailored solution. To date, these practices have been ‘forgotten’ by platforms. We’re really excited to support advice practices large and small with a tailored entry point into managed accounts, by providing them with the capability to tailor portfolios without a full build – and create a way they can benefit from model portfolios, while still using their current approach to portfolio construction as part of their advice proposition.
“The new Blend solution, only available on North, creates opportunities for advisers who don’t fully outsource investment selection to step into model portfolios for the client and adviser benefits.
“North is there to support advisers no matter how they want to build portfolios and we are the only platform with manager-level customisation of model portfolios, accounting for 16% of all advised assets and a fast-growing segment that has been totally untapped by model portfolios to date.”
Edwina Maloney, AMP Group Executive, Platforms said:
“At North, we’re focused on helping practices deliver great advice to their clients more efficiently. That’s why we’re thrilled to be extending our collaboration with BlackRock and Lonsec to help more advice practices across Australia bridge the gap between off-the-shelf and fully tailored private label model portfolio solutions.”
“Through this innovative new offer, we’re helping practices accelerate their efficiency by creating tailored, high-quality investment portfolios for their clients which are governed, managed and administered by world class asset managers utilising world class tech.
“In less than four years, our managed portfolios have grown tenfold and continue to be the fastest growing offer in market thanks to the support from our advisers, asset consultants and fund managers we work with.”