North adds managed portfolios to menu

Australian wrap investment platform, North, has added its first managed portfolio offerings for financial advisers and their clients to its investment menu, titled Buy, Badge, Build.

Following from North’s broader growth in the managed portfolio space to reach $7 billion in assets under management (AUM), Buy, Badge, Build offers the flexibility to select from North’s product suite and customise solutions for clients.

Off the back of the Buy, Badge, Build launch, North also announced it will unveil four new managed portfolios covering Australian equities, exchange traded funds (ETFs) and managed funds in partnership with investment manager, Elston, in mid-December.

“It’s been a big year for the North platform, which has delivered greater choice, flexibility and value for advisers and their clients,” Edwina Maloney, AMP Director of Platforms, said.

“Throughout 2022 we’ve worked closely with the advice community to expand and strengthen our investment menu and offers, in particular through our expanding managed portfolio range and our new retirement income solution – MyNorth Lifetime.

“Our Buy, Badge, Build managed portfolio solution is a another example of how we’re continuing to innovate and lead the market.

“We are committed to establishing North as the leading wrap platform on the market, providing an unrivalled combination of innovative, flexible, quality, low-cost investment solutions, enabling better outcomes for clients and helping advisers run their business efficiently and profitably.”

The new additions will take the total number of managed portfolios added to North’s buy menu in 2022 up to 34 across eight different investment managers, bringing the overall number of portfolios available to 95.

“North’s new Buy, Badge, Build managed portfolio solution provides practices of all sizes a unique opportunity to tailor managed portfolios aligned to their clients’ needs and business model,” Neil Rogan, Head of Adviser & Intermediary Solutions at Russell Investments Australia, said.

“As a leading global investment manager who customises investment programs for the world’s largest investors, it’s great to see this solution is now available to the retail market.

“It enables practices brand and build portfolios from a broad selection of investments at a discounted price, with the confidence of knowing high-quality investment managers underpin the offer.”

In the last two months, North also added another 28 managed funds and eight ETFs to its investment menu, spanning various asset classes and risk profiles including responsible investment, Australian shares and global shares.