Entireti meets managed account demand with new holistic service

A new managed accounts player has entered the market, this time from advice services group Entireti, offering an end-to-end managed account and portfolio management service for its network of licensed and self-licensed practices.

The firm announced PFS Investment Management, which it had secured via its acquisition of Australian Unity’s AFSL Personal Financial Services in 2023, had been rebranded to Salita Portfolio Services and was to be home to Entireti’s new suite of actively managed, cost-effective separately managed accounts (SMAs) – including accumulation, retirement and direct equities options – as well as portfolio management services designed to help practices develop “bespoke private-label” SMAs tailored to individual client needs.

Neil Younger, Entireti’s Group Managing Director, said the $5 billion arm – which currently delivers portfolio and investment advisory services to several Entireti businesses – represents a streamlined offering that showcases the firm’s commitment to support advisers in the delivery of high quality investment advice, strong portfolio outcomes and enhanced practice efficiencies.

“Salita draws on the combined expertise, capabilities and track record of Personal Financial Services, Akumin and Fortnum to deliver a modern, scalable service that is focused on delivering quality portfolio solutions and a better experience for clients and advisers,” he said.

Salita Portfolio Services is backed by the research and investment expertise of senior professionals at Entireti, including John Carnevale, Executive General Manager, Research and Investment Solutions and Aman Ramrakha, Chief Investment Officer, as well as the investment committee’s independent chair, Nigel Douglas and investment consulting services provided by Lonsec Investment Solutions.

“Salita represents the coming together and evolution of Entireti’s investment capabilities to support all the licensed and self-licensed practices within the network,” Carnevale said.

Entireti confirmed Salita’s new SMA offering is available on investment platforms.