Financial Planning
Euroz partners for first managed account models

ASX-listed diversified financial services business Euroz has engaged a boutique investment firm to develop its first managed account offering.

Following an extensive review process, Euroz has selected Innova Asset Management to build and oversee tailored risk-defined managed portfolios for its Euroz Securities and Entrust Private Wealth Management clients, which represent more than $1 billion in funds under management.

Innova managing director and co-chief investment officer Dan Miles described the partnership with Euroz as a natural fit.

"They're a leader in the broking and advice community who are philosophically aligned to our own 'client first' principles, as well as believing in the value of transparent advice," Miles said.

Likewise, Euroz head of private clients Chris Webster said: "We are excited to work with Innova, which has significant managed account experience, deep risk-management capability, and a positive track record."

"Euroz has a strong and diversified business that is leveraged to an improving Western Australian economy. Managed accounts will form a key part of our advice offering, allowing our clients to access world-class professional portfolio management while retaining the benefits of direct ownership," Webster said.

Innova beat out seven other candidates evaluated by Euroz, including some of Australia's largest multi-asset fund managers and managed account providers.

The portfolios will be rolled out via HUB24 which Euroz recently partnered with for a white label platform, providing advisers with access to the collective capability of HUB24 and its subsidiary Agility Applications via an integrated desktop interface connecting platform and broker applications.

Euroz selected HUB24 for its ability to integrate with the existing infrastructure underpinning their business.

According to IMAP's recent managed account FUM census, the managed accounts sector now represents about $48 billion in funds, standing as one of the fastest growing segments in the market.

Read more: Australiamanaged accountsEuroz SecuritiesInnova Asset ManagementChris WebsterDan MilesEntrust Private Wealth ManagementIMAPfinancial advicefinancial planning
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