netwealth launches managed account service in collaboration with GPS Wealth

netwealth has partnered with GPS Wealth to launch its first private label managed account.

netwealth, a Australia-based non-institutional platform provider, has partnered with GPS Wealth to launch its first private label managed account.

The deal will provide GPS Wealth’s advisers and clients access to a range of nine models which make up the CARE investment program, according to netwealth.

The offering would be made exclusively available to advisers and clients of GPS Wealth.

GPS Wealth managing director Grahame Evans said: “Netwealth has impressed us with their state of the art platform technology, flexibility and ability to support our key managed account rage across both superannuation and investment.”

Netwealth joint managing director Matt Heine said that the company expects to announce another significant private label in the next 2-4 weeks.

“We have a strong pipeline and we are expanding our main managed account menu, we are also looking at launching our first global managed account in September this year,” he added.

Further, netwealth also announced its largest year of growth on record, reporting a $1.96bn increase in funds under management on the prior financial year to $7.6bn.