New master trust to offer adviser equity

BT director chief executive

3 April 2002
| By John Wilkinson |

PlatinumChoice Portfolio Services, the new master trust to be administered by Norwich owned Navigator, will be offering an equity stake to select groups of advisers following a national launch to be held in the next few months.

The new master trust is initially being offered only to Borgiorno and Garnaut financial advisers, but PlatinumChoice director Chris Garnaut says the fund will be offered to other independent advisers, who will have an opportunity to engage in equity participation.

“Ultimately [Borgiorno and Garnaut financial advisers] will represent a small percentage of the business as other advisers begin using the service,” he says.

“A number of independent groups have already expressed interest in using this service.”

Garnaut says the plan to develop PlatiniumChoice started about two years ago as a way of giving advisers a way of owning a master trust and becoming involved in the strategic direction, while also meeting the needs of high-net worth clients.

The company’s chief executive, Richard Carter, has worked with both Borgiorno and Garnaut in establishing the framework for the new master trust. Carter previously worked at Norwich Union.

PlatinumChoice will offer independent advisers access to a number of specialist boutique fund managers, in addition to the more traditional managers on the Navigator menu.

“We will identify specialist boutique funds to compliment the mainstream institutional fund managers presently on the Navigator menu,” says Garnaut.

“These specialist boutique fund managers will have the qualities of a BT, Colonial and Perpetual of yesteryear, that does include many of their former key staff, and we believe this will represent a significant point of differentiation.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

3 weeks 5 days ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 month ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 month ago

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm. ...

1 week 3 days ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

5 days 22 hours ago

Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equi...

5 days 2 hours ago