Count onboard new Skandia platform
CountWealth Accountantshas signed withAustralian Skandiato make use of the group’s new platform, which it plans to formally launch in mid-February.
The platform deal is the third for Count, with its advisers now being able to chose from the Wealth-e-account, which is a badged version of the BT Wrap,Colonial’s First Choice platform and the yet-to-be named Skandia master trust vehicle.
Australian Skandia chief executive Ross Laidlaw says the platform is already in use in the general market by about 250 advisers across 100 dealer groups. However, the product to be used by Count will offer an upgraded range of superannuation and managed investments options.
Laidlaw says the full details, including pricing, would be announced in February ahead of a rollout in March and April to Count advisers.
The deal with Count also marks a move for the platform from the boutique to the mid- and large-scale advisory groups.
“We have focused on boutique players with the platform, but the deal with Count indicates that we are also looking at mid to large players to make use of the platform,” Laidlaw says.
Count Wealth Accountants managing director Barry Lambert says the group made the decision to add the third platform because it gave its advisers access to managed fund products not currently available through the two existing platforms.
Lambert says the Skandia platform is not expected to impact on existing wealth-e-account balances, and that Count still retains good relationships with BT and its parent, Westpac.
AUTHOR
Jason Spits
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.
