MGP partners with fintech for adviser solution

Managed Accounts Holdings (MGP) has partnered with an Australian fintech to offer money management solutions to advice practices using its platform.

The partnership with Moneysoft will provide advisers working with MGP's platform preferential pricing for the Moneysoft Lite and Pro services.

These are cloud-based tools targeted at advisers, mortgage brokers and super funds and, according to Moneysoft head of technology and commercial operations Jon Shaw, they "[enable] advisers to focus on developing strong personal relationships as a basis for providing advice. Those system efficiencies flow into reporting, analysis and marketing activities to help grow a scalable practice."

MGP managing director David Heather added: "The growth in managed accounts is part of an industry-wide shift to more transparent and efficient investing. Pairing our next generation platform with Moneysoft's money management, cash flow and budgeting services creates additional value for advisers by giving them and their clients greater visibility of actual financial behaviour."

"Those direct insights help advisers have deeper conversations with clients and be more highly responsive to their changing needs. We think that will make Moneysoft very appealing to the businesses we work with, who really understand the advantage technology can provide," Heather said.

News of the partnership follows MGP noting in an investor update that it is looking to fill the budgeted positions of chief operating officer and head of product, with the latter expected to finalise in February.

MGP explained the COO role will be based in Melbourne and that "given the growing international securities exposure of the group, a global search process is well advanced."

The new roles follow on from MGP's merger with Linear, as MGP chief executive David Heather continues the process to finalise the executive team. MGP explained: "This includes the filling of budgeted positions in the pre-merger MGP business which were not filled when it was apparent that the merger transaction would complete."

Other operational changes include a review of technology providers to "identify savings across the group, particularly where common service provider or common services are used," and this is expected to be completed by March 31.

Read more: MGPMoneysoftmanaged accountsDavid HeatherManaged Accounts Holdingsfinancial adviceJon ShawLinearfinancial planning
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