Class and MA Operator partner for fintech venture
Cloud company, Class Super, has announced a partnership with managed account fintech start-up, MA Operator, to provide managed account and direct client portfolio services to financial advisers.
MA Operator, which launched four weeks ago in Sydney, provided three services on its platform . The independent software provides solutions for managed accounts and direct portfolios delivered under a Statement of Advice model, as well as services for managed discretionary accounts (MDAs) with risk and compliance management, and software and services for external MDA Operators aiming to improve scale.
Class users would be able to automate client data entry and sychronise transactions in MA Operator. MA Operator also provided rebalancing, analytics, and automated records of advice generation. MA Operator co-founder, Shannon Bernasconi, said: "As well as removing inefficiencies in the industry, we want to give advisers more power to construct portfolios that will demonstrate real value to their clients. Our partnership with Class, a leader in innovative administration software solutions, supports this ambition".
AUTHOR
Hope William-Smith
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
