North unveils new managed portfolio suite available on platform

Investment platform, North, has boosted its adviser offering with a new suite of low-cost Diversified Index Managed Portfolios.

The five-product range offers multi-asset portfolios that accommodate clients with a variety of investment goals and balances across the MyNorth Super, Pension and Investment accounts.

The products are also targeted towards younger investors looking for a flexible, diversified and low-cost option that still achieves their financial goals and also provides more transparency than a traditional managed fund.

“We’re excited to be growing our range of managed portfolios. Yes, the price point is an attractive feature of Diversified Index, however this product is really about enabling advisers to provide and construct the most robust investment solutions for their clients,” Brad Creighton, AMP SMA Lead Portfolio Manager, said.

“There are always going to be clients that either require or prefer a low-cost solution. Equally, there is a considerable number of clients suited to a more bespoke and sophisticated investment solution where a mix of low-cost ‘core’ and higher cost ‘satellite’ components represent the optimal solution. Diversified Index is designed to play a role in all of those situations.

“What makes this passive investment offering unique to North is that the single sector building blocks are portable across other North managed portfolio solutions, enabling low friction transitioning as clients’ investment needs evolve. That’s what makes it a compelling investment journey solution which reaps ongoing benefits over time in the form of taxation and convenience.”

The new range seeks to meet the surging demand for new index managed fund portfolios, which, according to Investment Trends’ January 2023 Managed Accounts report, accounted for 15 per cent of new client inflows in the 12 months prior.

The launch also comes as various industry providers prepare for the impending intergenerational wealth transfer as a result of nine million Australians projected to retire in the next four decades.

“Our mission at North is simple, helping to make North the platform of choice for more advisers because of its breadth of features, functionality and ease of use,” Edwina Maloney, AMP Group Executive, Platforms, said.

“Advisers are increasingly looking for ways to service a broader pool of younger clients and we’re pleased to be giving them the support they need with an exciting new range aimed at low balance accumulators.”

“With older Australians expected to pass on $3.5 trillion in inheritances by 2050, we’re passionate about helping advisers support this critical intergenerational wealth leap by helping them capture the clients of tomorrow.”

“We are also continuing to expand North’s investment menu over the coming months to give advisers the very best in range, flexibility and seamless on-platform experience.”