Global consulting and actuarial firm Milliman has formed a partnership with platform provider Netwealth to widen the distribution of its first range of managed accounts that aim to dampen the effects of market volatility.
Milliman's first managed account offering, SmartShield, launched exclusively on HUB24 back in March.
The series leverages the company's global risk management expertise to shield clients from market risk and presenting a portfolio with greater strength and stability.
The SmartShield is described as "best-of-breed, low-cost ETFs" which invest across Australian and international equities and fixed income, property and cash.
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The offer consists of four portfolios: moderate, balanced, growth and high growth. Each portfolio is designed to meet the needs and risk profiles of investors who are seeking greater investment certainty as they are low cost, flexible and liquid and protect against market declines.
In addition, the built-in risk protection overlay reduces volatility and capital losses during a downturn and can be switched on or off by advisers when required.
Milliman's Australian practice leader Wade Matterson said when SmartShield was designed; they could not have foreseen that its launch would coincide with the pandemic.
"Financial advisers were already facing a raft of challenges, as the industry undergoes significant adjustments and regulatory requirements such as the Best Interest Duty were resulting in a greater focus on the fees and benefits of investment solutions for clients.
"SmartShield has armed advisers with an investment solution for their clients at an important time. It is simple and affordable, fits within their existing processes and provides a level of certainty for investors."
Matt Heine, joint managing director of Netwealth said: "We are pleased to be working with Milliman and now offer their unique investment solution via our managed account to investors on both our cost-effective Core menu in addition to our broader investment menu."