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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
