Count launches new
high-net-worth wrap
By Craig Phillips
CountFinancialhas revealed its new wrap – platform2– targeting the high-net-worth market as a re-badgedBT Financial Groupoffering, and will roll out the initiative at its annual conference in April.
According to Count managing director Barry Lambert, platform2will offer a competitive ‘per portfolio’ pricing structure rather than charging fees on a per investment basis.
The offering has a flat fee of $3,000 and a marginal fee rate of 23 basis points (including GST) up to $5 million and is aimed at investors with over $750,000.
The platform is priced the same for both investment and superannuation products, and has no platform administration fee for amounts over $5 million, with adviser and funds management fees calculated separately.
Lambert says the new wrap is priced on a portfolio basis, however, investors with high account balances but a low number of investments may be better off in wealth e-account, which is priced at 70 basis points up to $100,000 and 23 basis points thereafter — but on a per investment basis.
Count’s existing badged BT wrap platforms recently surpassed $2 billion in funds under administration.
Lambert says the spawning of platform2stems from the group being proactive in light of an acknowledgement that its existing range of products were not as competitive for high-net-worth clients as they could be.
“We aim to offer clients real choice when investing. This new product completes what is already a very comprehensive selection of platforms available to Count clients,” Lambert says.
Count also announced last week that Westpac home loans and commercial loans have been added to its lending panel.
