WB Financial Management Pty Ltd started operating a boutique Australian Financial Services License in 1996 and like the majority of AFS Licensees it offered a range of traditional investment platforms and managed funds on its approved product list (APL).
Over the coming years WB and its advisers became increasingly discontent with the cost and inefficiency of the platforms and underlying managed funds that were on its APL. Lack of transparency, high fees and large distributions of capital gains were just a few of the issues that lead to WB’s search for a better product solution.
In 2007 WB met with representatives of BlackRock Investment Management Australia Pty Ltd to talk about their Customised Portfolio Service which was a Separately Managed Account (SMA). The SMA operated on platform technology developed and maintained by Praemium Australia Limited. As a result of the discussions with BlackRock representatives, WB set up its own badged version of the BlackRock SMA and began work with both BlackRock and Praemium to improve and tailor the operating capability and efficiency of the platform, reduce costs and improve the diversity of the product offer.
In 2010 WB developed its first Multi Manager product for the Agentia SMA platform, the Agentia Australian Equity Multi Manager, and since then it has developed 11 more Agentia Multi Manager Product solutions. More information on these Multi Manager Products can be found under the products tab in this web site.
In 2013 BlackRock transferred its interest in the SMA product to Praemium. During that year WB made the strategic decision to focus its efforts on building the Agentia Multi Manager solutions for external Independent Financial Advisers (IFAs). As a result, WB Financial Management Pty Ltd surrendered its AFS License and partnered with Financial Wisdom Limited. WB and Praemium Australia Limited continue to work together to develop the Agentia product and the underlying technology to improve efficiency, reduce costs and to add further diversification to the product offer. WB has a strong ongoing relationship with BlackRock and they continue to provide advice, research and support as well as product solutions through their range of iShare ETFs.