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Entireti Revamps Managed Account Platform with Salita Portfolio Services

Entireti has revamped its managed account offering following its acquisition of Australian Unity’s financial advice business, launching the Salita Portfolio Services.

This new service aims to cater to both licensed and self-licensed practices, encompassing Fortnum Private Wealth, Personal Financial Services, Akumin (formerly AMP licensees), and Entireti Alliances, its newly branded self-licensed service operations.

The Salita Portfolio Services were previously known as PFS Investment Management, a part of Personal Financial Services that Entireti acquired from Australian Unity in late 2023. Following this acquisition, Entireti was established to serve as the primary parent company overseeing the various licensee entities. This strategic move positions Entireti as the dominant player in the Australian licensee market, concluding an era of institutional control over financial advice licensees with its acquisition of AMP’s licensee business.

The refreshed service is bolstered by the expertise of Lonsec Investment Solutions, now operating under the Evidentia Group. Entireti's robust investment and research team, including John Carnavale and recently appointed chief investment officer Aman Ramrakha, plays a critical role in supporting Salita’s offerings. The investment committee, under the leadership of independent chair Nigel Douglas, harnesses extensive experience from sectors like van Eyk, Perpetual Private, and ANZ Wealth.

The launch of Salita Portfolio Services comes at a time when managed accounts are increasingly seen as key revenue drivers for licensees. This is highlighted by research from CoreData, indicating the rising significance of managed accounts and equity partnerships. The recent census by the Institute of Managed Account Professionals and Milliman reports that the managed account sector has surged to $256.24 billion in funds under management, marking impressive growth from the previous year.

Salita Portfolio Services aims to deliver a suite of actively managed, cost-efficient separately managed accounts (SMAs), with options spanning accumulation, retirement, and direct equities. Additionally, it provides portfolio management services tailored to develop bespoke private-label SMAs that align with individual client needs. This comprehensive approach supports practices within Entireti’s network, managing an impressive $5 billion in funds under management.

Looking ahead, the introduction of Salita underscores Entireti’s commitment to innovation and adaptability in the ever-evolving managed accounts landscape. As the sector continues to expand, Entireti’s strategic positioning through Salita is expected to enhance its competitive edge while offering substantial value to its client base and affiliated practices.

Published:Thursday, 2nd Oct 2025
Source: Paige Estritori

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Finance News

Star Entertainment Group Secures Loan Covenant Waiver Amid Financial Challenges

05 Oct 2025: Paige Estritori

Star Entertainment Group, a prominent Australian casino operator, has successfully secured a loan covenant waiver under its syndicated facility agreement as of September 30, 2025. This development comes at a critical juncture for the company, which has been navigating a series of financial and operational challenges. - read more

ANZ Bank Faces A$240 Million Penalty for Bond Deal Misconduct and Customer Service Failures

05 Oct 2025: Paige Estritori

ANZ Group, Australia's fourth-largest bank, has agreed to pay a record A$240 million ($159.5 million) in penalties following investigations by the Australian Securities and Investments Commission (ASIC) for major misconduct. The violations include acting unconscionably during a A$14 billion government bond deal in April 2023, which the regulator says led to A$26 million in lost government funds. ANZ’s improper trading placed downward pressure on bond prices, undermining government funding. - read more

Commonwealth Bank of Australia Achieves Record A$10.25 Billion Profit Amid Lending Surge

05 Oct 2025: Paige Estritori

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27 Sep 2025: Paige Estritori

DBS Bank, Singapore's largest lender, has announced ambitious plans to double its Australian lending book from A$11 billion to A$20 billion over the next five years. This strategic expansion aims to capitalize on the growing trade relationships between Australia and Southeast Asian nations, including Singapore, Indonesia, Malaysia, and Vietnam. - read more

Japanese Banks SMBC and MUFG Drive Growth in Australian Business Lending

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In a notable shift within Australia's financial sector, Japanese banking giants Sumitomo Mitsui Banking Corporation (SMBC) and Mitsubishi UFJ Financial Group (MUFG) have emerged as key drivers of growth in business lending. As of July 2025, business lending volumes across Australia's top 10 authorized deposit-taking institutions (ADIs) reached A$925 billion, with SMBC and MUFG leading the expansion. - read more

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