Knight Financial Advisors, Managed Accounts collaborate to launch MDA service

Knight Financial Advisors has teamed up with Managed Accounts Holdings (MGP) to introduce a managed discretionary account (MDA) solution

Perth-based Knight Financial Advisors has teamed up with listed managed account operator )Managed Accounts Holdings (MGP to introduce a managed discretionary account (MDA) solution.

The new solution would eventually replace Knight Financial’s existing proprietary investment administration system, the advisory firm said in a statement.

In 2015, Knight Financial worked alongside MGP subsidiary managed accounts.com.au in 2015 to develop a customised solution that allows the professional management of portfolios as well as mitigates manual administration. The Perth-based advisory firm also built an investment and corporate governance framework.

Knight Financial Advisors director Peter Farlie said: “We’re able to deliver a more dynamically managed portfolio solution through our partnership with managedaccounts.com.au and we’ve also addressed many of the challenges commonly faced by advisers who specialise in direct investing.

“A major benefit is our ability to quickly implement dynamic asset allocation changes and investment ideas based on market developments and events.”

The new service would enable the advisory firm to focus on growth as well as offer the same level of client service and after-tax client outcomes, Farlie stated.

MGP CEO David Heather said: “Knight now has the ability to manage client portfolios with discretion, execute trades across their client base through a panel of brokers selected by Knight, and, where they see fit, outsource portfolio management of selected asset classes to external managers.”