Ipac looks to Summit for customised platform
Ipac Securitieshas launched iAccess, a tailored version of theAXA’s Summit wrap platform which will be available to ipac advisers and related third parties.
Leveraging AXA’s platform capability in this way was one of the benefits of the purchase of ipac by AXA in July last year, according to ipac chief executive Peeyush Gupta.
Ipac says iAccess is one of the few wraps to allow funds to be aggregated by family groups of up to four members to reduce product fees or across investment structures.
There are eight Ipac multi-manager funds accessible through the platform, together with a range of managed funds, shares, traded policies and term deposits utilising the Summit investment menu.
Gupta says it was important when developing the platform that it supported different methods of advice implementation.
“Whether a single multi-manager portfolio is used, or multiple funds, or a combination of managed and direct investments, the method of implementation is simply a measure of efficiency for the adviser and a reflection of how ‘hands-on’ the client wants to be,” Gupta says.
“Ipac wanted an offer that was price competitive for advisers who use the ipac multi-manager portfolios as well as those who prefer a choice model when it comes to implementing the advice,” he says.
Ipac previously used an in-house platform called Strategic Service and iSelect, a badgedBTwrap, and advisers will continue to access these products.
Ipac has also expanded its adviser base further into the top end of Australia, signing up Cairns practice TFS Financial Planning as its latest equity partner and purchasing the majority shareholding from principal Bill O’Sullivan.
TFS is a $90 million practice and has four advisers, following the recent appointment of ex-Bendigo Bank and Macquarie Financial Services adviser Danny Maher as general manager of the business.
According to Gupta, ipac’s Equity Partner Program has facilitated the growth of the business into Perth and regional Victoria, and provides independent practices with a succession planning solution once the majority shareholder wants to move out of the business.
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