Powerwrap inks $750m deal with advice group

In a statement released to the market on Thursday, Powerwrap said it had inked the agreement with Queensland-based advice group Emanuel Whybourne, which managed $750 million worth of assets for high-net-worth clients.

“Powewrap has been selected to deliver platform administration and reporting services for the group’s high-net-worth and ultra-high-net-worth investor clients,” Powerwrap said.

“Under the agreement, Powerwrap will provide access to a wide range of asset classes, including domestic and international listed securities, domestic and international fixed income, model portfolios and alternative assets. It will also provide comprehensive administration and reporting services.”

Emanuel Whybourne founder Tim Whybourne said the group had chosen Powerwrap because of its specialist understanding of managing complex high-net-worth portfolios.

Powerwrap chief executive Will Davidson said the group would work closely with Emanuel Whybourne to transition its clients to the Powerwrap platform.

“Powerwrap has proven to be a strong strategic fit for advisers with high-net-worth investor clients,” Mr Davidson said.

“We provide a very broad investment universe including alternative assets. We can execute on all asset types and provide consolidated reporting on all assets.”