WealthO2 launches new MDA to unite top managers

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.

“In addition the investment clients retain legal ownership of the ASX assets and get access to all corporate events.

“The MDA best of breed service is a logical extension to WealthO2’s existing discretionary and non-discretionary (ROA) adviser solutions across investments and superannuation.

“The best of breed managers not only bring their investment expertise but also the scale benefits to clients.”

BlackRock Australia’s head of model portfolio solutions, Josh Persky, said the new MDA is a “welcome development”.

“It enables advisers to use BlackRock’s models through both super and investments on HIN, increasing accessibility for more Australian investors to invest in cost-effective diversified investment solutions to fulfil their long-term financial goals,” Mr Persky said.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.