OneVue has upgraded its Unified Managed Account (UMA) platform to offer two separate investment package options plus a simplified fee structure.
The company announced this week that the two investment options were WRAP+ and UMA VANTAGE, both of which would incorporate the new, simplified fee structure from August 2013.
Commenting on the initiative, OneVue group head of sales Stephen Karrasch said the move had been made as a result of consultation with advisers who use the OneVue platform.
He said the changes would also ensure greater alignment with the Future of Financial Advice (FOFA) reforms.
"Both investment packages will offer next generation transaction, administration and reporting services, with self-managed super fund integration," Karrasch said.
"Our WRAP+ package will provide greater flexibility than traditional wrap providers in terms of investment choice, as well as streamlined tax reporting," he said.
"The product will enable advisers and clients to operate cash, margin loans and custodial shares on the platform, and give them access to around 800 managed funds, all ASX-listed securities including 70 exchange traded funds, 21 term deposit providers and over 30 separately managed account (SMA) model portfolios."
Karrasch said that for clients who wanted even greater diversity, the company's UMA VANTAGE package would incorporate one of the most extensive ranges of investment types in the market, as well as comprehensive daily reporting across all tax entities and product types.
"UMA VANTAGE will comprise everything in WRAP+ and allow for more sophisticated investments such as direct property, loans including limited recourse borrowing arrangements, collectibles, non-custodial shares, warrants and structured products," he said.
