Macquarie Wrap Solutions hits $20 billion in funds under administration

29 August 2006

Macquarie Wrap Solutions reached more than $20 billion in Funds Under Administration (FUA) this month, following strong support from advisers and clients during the past year.

Macquarie Adviser Services Division Director, Giulio Russo, said the achievement represented total growth of over $2 billion in FUA in just six months.

“We have been delighted with the ongoing support of advisers and their willingness to work with us and provide feedback so that we can continue to evolve the platform to meet their needs,” Mr Russo said.

“Advisers’ businesses are growing and changing constantly and our ability to adapt and grow with them has greatly assisted us in achieving this milestone.

“Macquarie Wrap Solutions is pleased to be one of the fastest growing platforms in the Australian market, but the credit for that isn’t ours alone, it is shared with the advisers that we work with.”

Mr Russo said the growth in Macquarie Wrap wasn’t attributable to a single significant deal, even though last quarter saw almost $1.5 billion in inflows.

“Most of the growth has been organic – it has come from our existing advisers increasing the number of clients and their investments using our Wrap,” Mr Russo said.

“It is an extremely competitive marketplace and we are constantly striving to achieve and exceed the expectations of advisers.

“That is why we have focussed on improving the way our Wrap interfaces with leading financial software providers through providing automatic daily downloads.

“It is also why we have just run training sessions around Australia for advisers to ensure they are aware of all Wrap’s features when it comes to tax reporting so that they can use them to their, and their client’s, best advantage.

“Our main aim is to make Macquarie Wrap as functional as possible and easy for advisers to use ,so they have more time to spend direct with their clients.

“Providing the best possible service for our clients is our main aim and our ability in having the most efficient turnaround and processing times in the platform market was recently recognised in the ASSIRT Service Level Awards.”

For more information, please contact:

Belinda Lawton
Public Relations
Macquarie Financial Services Group
Tel: (02) 8232 3835
Mobile: 0409 305 000