Investment Diversity signs eight dealers
Investment Diversity, the group launched by formerNavigatormanaging director Mat Walker in November last year, has signed up eight dealer groups to its online integrated portfolio management system — Investment Exchange.
Walker says the eight groups registered on the system are at different stages of usage as advisers are being trained to make use of the system.
According to Walker the national spread of dealers now using the tool include someProfessional Investment Services(PIS) advisers, and he adds that some dealers are using the platform for investment administration and reporting but most are using it as a self-managed superannuation fund platform.
Walker says Investment Exchange’s ability to handle diverse investments, such as direct property, has made it attractive to advisers wanting to deal with self-managed funds on-line.
“We believe in a year’s time, a significant percentage of funds under advice in Investment Exchange will be self-managed funds,” Walker says.
“However, it is too early yet to start talking about funds under advice on the platform, especially as we make no charge for external assets that are included on the platform.”
Investment Diversity is continuing to sign up further dealers to use the platform with Walker adding they are in discussion with a dozen dealer groups and is pitching mainly to small to medium-sized independent advisers.
“But we are not looking to sign up every dealer as we want to be service-orientated, rather than a big platform player. If we become too big, we will not be able to give that personal service,” he says.
The Melbourne-based platform was launched late last year and usesAvanteosto provide some core technology and transacting software.
The platform covers both superannuation and non-super investing with access to about 400 managed funds,ASX-listed stocks and more than 200 wholesale funds. Research is provided byMorningstar.
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