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February 25, 2014updated 04 Apr 2017 2:28pm

GPS Wealth slashes investment fees with new MDA solution

GPS Wealth, an Australia-based dealer group, has implemented a new managed discretionary account (MDA) solution to cut investment fees for clients in half and doing away with expensive master trusts and wrap platforms.

By Verdict Staff

GPS Wealth, an Australia-based dealer group, has implemented a new managed discretionary account (MDA) solution to cut investment fees for clients in half and doing away with expensive master trusts and wrap platforms.

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  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
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With this new solution, new clients of GPS Wealth will be charged an average investment management fee of between 0.6% and 0.8% of assets under advice compared to 1.5% previously, according to Professional Planner.

Additionally, the group is also planning to move 60% of existing funds under advice into a MDA structure over the next two years.

The new managed account solution will enable the firm to create a tailored direct portfolios based on clients’ individual needs and tax situation.

Grahame Evans, managing director GPS Wealth, said: "The MDA is only for new money at this stage but we’ll be seriously considering the service for existing clients as part of the review process. Our philosophy is to add value through asset allocation and by keeping fees down and preventing clients from making silly, emotional investment decisions."

Evans added that the MDA solution was created based on the group’s investment philosophy and mantra of "Exciting life, boring money".

GPS Wealth, founded by Greg Holman and Rob McGregor, currently has 32 practices and over 50 financial advisers across Queensland and New South Wales.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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