Boutique advice group Kuda Wealth is moving its high net worth clients to Watershed Funds Management’s managed accounts solution using OneVue’s award winning platform.
Leveraging an existing partnership between OneVue and managed account manager Watershed Funds Management, Kuda Wealth has been able to create a quality scalable client solution whilst delivering greater efficiencies in the back office.
Kuda Wealth principal Michael Davie had previously established a tailored advice service using direct equities. “Although our clients liked the personal experience and the transparency of investing directly into quality growth companies, the downside of managing disparate shares was significant. The solution was not scalable, extremely labour intensive and offering a direct equity model meant that each client’s portfolio would be rebalanced at differing times depending on the review timeframe, creating differential portfolios and performance for clients. It was a nightmare for our back office.”
After undertaking a review of his business model Mr Davie selected Melbourne-based Watershed Funds Management, a specialist managed account provider, to design and build a series of risk-based portfolios for his clients. “The Watershed Funds Management solution enables us to transition clients into six portfolios without losing the features clients liked about our investment proposition such as being able to look through to the underlying shares in the portfolio,” he said.
That transparency still gives my clients that feeling of control however my time has been freed to concentrate on interacting with clients and finding better ways to add value.
“Watershed’s investment philosophy also aligns to ours,” said Mr Davie. “Like us, Watershed believes in buying and holding quality growth stocks for the long term, with low turnover and strong diversification.”
Watershed Funds Management Managing Director Adam Rowley said: “Our specialist managed account solution favours both Australian and international equities. This enabled us to work closely with Kuda Wealth to develop a series of portfolios customised to meet the needs of Michael’s diverse high net worth client base.”
“We found OneVue’s functionality to be more advanced than other platforms, catering for clients investing in both custodially held and non-custodially held assets. We were impressed with the flexibility of OneVue’s technology. Features such as the ability to get a client’s total wealth view across a number of tax entities such as SMSFs, family trusts or business structures made it an easy sell to clients. Moving from managing direct shares and all the paperwork that comes with that to a professionally managed portfolio on platform eliminates much of the paperwork and certainly makes reporting across portfolios and tax positions much easier,” Mr Davie stated.
In this year’s Investment Trends Platform Benchmarking and Competitive Analysis Report, OneVue was the winner of the product offering category and awarded a top three platform position in Australia, overtaking many of the high profile platforms once dominating the sector. This depth and breadth of product offering resonates well with the diversity expected from high-net worth clients. The partnership between Kuda Wealth, Watershed Funds Management and OneVue demonstrates how a partnership can transform an advice business and the way advisers work with clients.
For more information:
Executive General Manager Platform Services, OneVue
+61 418 400 619
Marketing Manager, OneVue
+61 8823 2594
About OneVue Holdings Limited (ASX: OVH)
OneVue is an ASX listed fintech company that partners to disrupt across the superannuation value chain. The business operates through three core divisions: Fund Services, Platform Services and Trustee Services.
OneVue is number 1 in Fund Services managed fund administration and number 1 in Superannuation Trustee Services. Platform Services was recognised in Investment Trends’ December 2017 Platform Competitive Analysis and Benchmarking Report as ranking third in full function platforms, the winner of ‘Most New Developments’ Award for the second year running and winner of ‘Product Offering’ Award. In 2017, OneVue was awarded ‘Best Innovator’ in the Self Managed Super Fund Provider Awards.
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