AMP Limited has released its inaugural North Managed Portfolios Insights Report, highlighting a major shift in the Australian wealth management industry. The report reveals that managed portfolio assets under management (AUM) surged by 24.6% year-on-year, reaching $256.24 billion as of June 2025. Two-thirds of financial advisers now use managed portfolios, but these account for only about a third of advised assets-signaling significant room for further growth. The report identifies 2025 as a tipping point, with managed portfolios transitioning from an efficiency tool to the default operating system for financial advice. This transformation is driven by advisers seeking stronger governance, reduced implementation risk, and more time with clients. North's innovative "Blend" solutions, which combine off-the-shelf efficiency with adviser customization, are gaining market traction, supporting practices looking to tailor model portfolios for their clients. The report also notes that Australia's move towards managed portfolios mirrors global trends, especially in the US and UK, where regulatory changes are accelerating adoption. Additionally, the report highlights increasing investor diversification and growing interest in global, alternative, and ESG-focused strategies, with boutique and challenger managers rapidly gaining market share.