Count launches new high net worth wrap

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.