NAB Private Wealth enhances JBWere offering through partnership with BlackRock’s Aladdin Wealth
Michael Saadie
In a first for Australia’s banking and wealth management industries, NAB Private Wealth has entered a partnership with global asset manager BlackRock and its Aladdin Wealth platform.
This partnership will benefit NAB Private Wealth’s advice business JBWere by providing clients with new customised insights about the risk and return characteristics of their investment portfolios aligned to their goals.
Used by leading global wealth managers, BlackRock’s Aladdin Wealth platform allows advisers to model the potential impact of macroeconomic events and market scenarios like pandemics or the recent gold price spikes on client portfolios. The trusted and nuanced analysis can be used to guide informed decision-making.
The advanced risk management and portfolio construction capabilities are set to complement the tailored advice that has been JBWere’s signature strength for 185 years.
NAB Executive, Private Wealth and JBWere CEO Michael Saadie said it was another way to support clients at the highest level with their individual, long term financial goals, particularly in changing markets.
“Clients have been asking for deeper insights into their investment portfolios around risk and performance analytics and we’re pleased we’ll deliver the capability with BlackRock’s Aladdin Wealth platform,” Mr Saadie said.
“While many things have changed since stockbroker Jonathan Binns Were founded JBWere in 1840, the need for trusted and timely advice and analytics hasn’t.
“Our advisers will use the Aladdin Wealth platform to provide clients with more robust and sophisticated portfolio analysis, scenario modelling, and value-at-risk calculations, which are critical for understanding the potential impact of market events on client’s investment portfolios across public and private holdings.”
JBWere Executive Advice, Andrew Bird said the partnership was a pivotal moment in strengthening a 185-year history of providing tailored advice.
“Our advisers will be enabled to elevate risk monitoring across every client portfolio daily. They can better demonstrate to clients how portfolios would react under different market conditions and how to plan for long-term growth rather than short-term market moves,” Mr Bird said.
Chantal Giles, Head of Wealth Australasia & APAC Strategic Clients at BlackRock, said “This collaboration builds on our strong relationship with NAB as we work together to deliver more innovative solutions for Australian investors.
“Technology is increasingly reshaping wealth management and through this offering JBWere will now have access to institutional-quality data and insights to better support their clients’ long-term financial goals.”
James Verner, Head of Aladdin Wealth Tech APAC, said “Through the Aladdin Wealth platform, JBWere’s advisers will gain access to advanced tools for analysing, monitoring, and customising their clients’ portfolios. This will provide deeper portfolio insights, richer risk analysis, and greater transparency and reporting for clients.
“Wealth management continues to evolve to be more personalised and advisory driven, and we are delighted to be supporting JBWere, our first Australian wealth management client on this journey.”
The announcement follows strong year-on-year growth across NAB Private Wealth. JBWere saw a 14.9% increase in funds under management to $48.7 billion, while in Private Banking household lending increased 10.9% to $24.5 billion, and deposits increased 6.9% to $45 billion.
