Asgard to offer direct shares through E*Trade
Platform providerAsgard Capital Managementhas struck an alliance with E*Trade Australia to allow it to integrate an online share trading service within its wrap product, eWrap.
E*Trade will provide Asgard financial advisers with online access to shares listed on theAustralian Stock Exchange(ASX) through the latter’s front-end technology system, AdviserNet.
Sealcorp investment products associate director Brad Scally says the deal will allow Asgard advisers to tap into the technology available on E*Trade while being fully integrated with AdviserNet.
“Advisers can move seamlessly between AdviserNet and E*Trade. They can link across to the E*Trade platform, execute the trade, track orders and view their contract note history. They can then return to AdviserNet and view their clients’ wider portfolio valuations,” Scally says.
Asgard says it evaluated a number of online share trading facilities and chose E*Trade because of its proven technology and growing share of the adviser market.
E*Trade Australia chief executive Brett Spork says financial advisers are increasingly recognising the benefits of involvement in the direct equity market.
“This offering will provide advisers with a convenient means of investing in shares within a wrap environment,” Spork says.
“We are excited about the fact that an additional 3000 advisers will now have access to our trading platform,” he adds.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
