Oasis signs fourth partner in growth spurt
OasisAsset Management is pushing further into the wrap and master trust outsourcing arena after signing its fourth partnership deal and making no secret about being in talks with other parties.
Taylor Bowring, a Sydney-based financial planning business, is the latest recruit. It joins Australian Financial Services, Matrix Financial Group and Professional Investment Services (PIS).
Oasis managing director Bruce Tustin says the inclusion of Taylor Bowring broadens the group’s outsourcing range. Oasis helped launch Taylor Bowring’s wrap platform, Wealthtrac, in February 2002.
Oasis has brought to market PIS’s master trust, Mentor Investment Services, Australian Financial Services offering, Strategy, Matrix’s master trust and now Wealthtrac. The group also received a boost in November 2000 when private equity firm Pacific Equity Partners (PEP) made its first move into retail financial services by making an undisclosed investment in Oasis.
However, as well as the latest dealer recruitment adding value through products, Tustin says the inclusion of Taylor Bowring is all part of the group’s plan to reach a total client pool of eight clients.
Oasis has already amassed an immense amount of operating inflows, which Tustin says will increase dramatically over time.
“Our inflows are currently $50 million a month, and we are expecting $100 million in the next three to four months,” Tustin says.
“We are running at $1 billion a year. In the next year, we believe it will double,” he says.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
