Cornerstone Managed Portfolios respond to increasing adviser and investor preference for transparent, personalised investment solutions, and growing demand for lower-cost, actively managed portfolios.

Aligned AMP advice practice, Invest Blue, collaborated with AMP and Russell Investments to design and build the new offer, which includes four separately partnered managed portfolios.

The portfolios provide Invest Blue’s advisers and clients with access to transparent investment portfolios, tailored to specific client needs.

Shaune Egan, AMP’s Director Wrap Product, said the new offer reflects AMP’s ongoing commitment to firmly establish MyNorth as the leading wrap platform in the Australian market.

“Our strategy for MyNorth is anchored to three objectives – cost effectiveness, seamless administrative functionality and unrivalled investment choice.

“This new offer continues the delivery of this strategy, supporting advisers in providing clients with tailored, cost effective portfolios, constructed and managed by a leading investment manager.

“Advisers and clients will benefit from centralised trading teams and strong investment governance processes which minimise risk and support practice profitability,” Mr Egan said.

David Stephen, Invest Blue’s Managing Director, said “the new portfolios strengthen Invest Blue’s value proposition, providing clients with access to bespoke, high-quality, transparent investment options.

Jodie Hampshire, Managing Director of Russell Investments Australia, said “we are seeing increased demand from many financial advice licensees and large practices for independent, world class investments, packaged and structured to suit specific client needs”.

The new offer expands MyNorth’s partnered managed portfolio range following the launch of portfolios with advice practice, the Weinberg Private Group and other independent advice practices in 2019.

Cashflows on the North platform increased 52 per cent to A$2.0 billion in the first half of 2020, driven in part by continued inflows from external financial advisers, which increased by 39 per cent to A$700 million.

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