Deakin wraps it up for advisers

TheDeakin Financial Servicesdealer group will launch its own wrap service early next year after revealing today that it had signed off on the development of the new platform.

The wrap, to be marketed as the Deakin Smartplan, will be based on a platform built by technology provider Avanteos.

The wrap will offer three distinct services - Deakin Smartplan Investments, Deakin Smartplan Superannuation and Deakin Smartplan Allocated Pension.

Deakin managing director Murray Hills says the wrap was developed in response to demand from the group’s advisers.

“Advisers are seeking initiatives that can streamline and support ‘back office’ and compliance functionality whilst minimising the cost of customer service and business administration,” Hills says.

Hills says the wrap is also a key plank in the group’s plans to grow its business nationally and attract additional advisers.

Deakin, which has some 111 financial advisers operating mostly in Victoria and Western Australia, has previously flagged that it is looking to attract another 100 advisers to the group.

The group is expecting to officially launch the new wrap service to its network of advisers in February next year.