Monday 7th July, 2014: Melbourne-based advisory firm Moran Howlett Financial Planning has become the latest boutique to launch a managed discretionary account (MDA) solution, which will ultimately see it phase out traditional wrap platforms and clunky SMSF administration software.
The firm, which has approximately 350 clients and $160 million in assets under advice, has signed a deal to integrate the MDA solution of managedaccounts.com.au following an extensive investigation process which involved four other parties.
Moran Howlett Financial Planning will transition the majority of funds under advice onto the MDA structure over the next few years.
The self-licensed practice, which was established in 2012 through the merger of Paul Moran Financial Planning and Personal Wealth Advisers, is run by principal advisers Paul Moran and Cameron Howlett. It currently uses Westpac’s Asgard platform, Macquarie Wrap and SMSF software provider, Class Super.
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