Monarch Wealth has teamed with third-party portfolio consultant Westcourt Capital to launch its new private client portfolios.
As an adviser to Monarch, Westcourt provides market perspective, commentary and portfolio analysis on the private client portfolio service.
Westcourt helps Monarch offer MFDA (Mutual Fund Dealers Association of Canada) advisers a viable alternative to fund-of-funds and in-house products with a fee-based, model portfolio platform.
Advisers can offer private client portfolios directly to their clients without entering into any kind of referral arrangement with the portfolio manager.
"Layered onto our technology platform that affords advisors greater efficiency, is a comprehensive level of investment offering previously available only to the high net worth investor and certainly never before accessible to the mainstream mutual fund investor," says Yama Yaqeen, VP operations and technology, Monarch Wealth Corporation.
As the first MFDA dealer with an end-to-end electronic on-boarding and fully integrated adviser console, Monarch has incorporated its fee-based account management and model portfolio solution into its offering for advisers and their clients.
Monarch's model portfolio capability is a multi-faceted alternative to fund-of-funds.
With a long track record as one of Canada's independent mutual fund analysts, Westcourt's Dave Paterson advised Monarch on the creation of its first set of model portfolios. These portfolios are comprised of top ranked funds from multiple fund companies, are fee-based, offer tiered pricing and householding account benefits, are continually monitored and regularly rebalanced, and are free of any conflicts of interest that arise from proprietary product offerings.
"In an advisory capacity, we brought our extensive mutual fund knowledge coupled with our portfolio optimisation model to bear on the design of Monarch's first set of model portfolios using funds from the following asset managers: TD Asset Management, Beutel, Goodman & Company, Franklin Templeton Investments Corporation, Fiera Capital Corporation, and Mawer Investment Management. The number of portfolios we can provide advice on is virtually limitless and for large branches we can help customise multiple sets of portfolios," says Paterson.