After recently winning the SMSF Award for Best Advice Platform Provider, Netwealth shared some of the reasons behind the success of its wealth management platform and what it is doing to better serve the needs of advisors .
Over its 22 years of operation, the platform has evolved significantly and has become increasingly sophisticated as it responds to changing client demands.
One of the platform’s key focuses, especially over the past five years, has been building products and services for individual customer segments. By ensuring that solutions meet the requirements of specific client segments, advisors are able to specialize in specific services and client types and provide higher quality service.
Matt Heine, co-managing director of Netwealth, said the company also recognizes the importance of providing advisors and their clients with a wide range of investment options and ensuring that their portfolios are efficient enough to execute at scale. I said yes.
While the platform has traditionally had a relatively narrow offering that primarily sticks to domestic equities and domestically managed funds, Netwealth has expanded its offering over the years to include only international equities, foreign exchange, managed funds and managed accounts. as well as off-platform and non-custodial reports.
“We are very focused on the user experience and make sure that we have a very wide range of services, such as managed accounts,” explains Heine.
“We also want to make it easy to complete deals. We also want to make sure that if an advisor needs help, there is always someone on the other end of the line to help.”
Heine said the firm continues to push the boundaries of what traditional platforms offer by investing heavily in mobile technology and further enhancing its digital offerings, allowing advisors to focus on client engagement. said there is.
“We are currently launching a new multi-asset portfolio service that effectively covers an advisor’s entire asset base, whether custody or non-custody assets.”
Reporting also continues to be a big focus for the company.
“We do a lot of work to ensure that investors and advisors know what is happening within their portfolios,” explained Heine.
“We try to accommodate people who prefer visualized data, not just the raw data itself.”
Heine said integration with the wider SMSF ecosystem is key to attracting advisors working in the SMSF space.
“Whether SMSF is around BGL, Class or any other system, the integration with different kinds of software makes it very easy to move data between different systems. ”
Wealth management platforms will “do more of the same thing, but better,” Heine said.
“Our strategic initiatives include continued investment in mobile and client portals.”
“We will also continue to focus on the Hall of Wealth to give our clients visibility into everything related to their financial health, including banking feeds, real estate feeds, platforms and non-custodial data.”
The company will also further customize and personalize reports for clients and continue to build managed accounts.
“As a business, we are very focused on making sure our advisors are becoming more and more efficient. Ultimately, if they can reduce the cost of their services, it will benefit our clients and make more of Australians can be advised. But we are also making sure we have access to more assets around the world that have not traditionally been done in Australia.”
