Opes pursues high net worth

Opes Prime has launched a platform aimed at sophisticated investors who want the options of using their stockbroker and global markets.

The Opes Wealth Platform offers an extensive stock list for securities lending and equity financing across all major stock exchanges, including the Hong Kong, Singapore, Japan, US, UK and European markets, and transactions can be conducted in all major currencies.

Opes head of sales and marketing Mark Rice said sophisticated investors wanted to be able to invest anywhere and at any time.

“We felt it vital that the wealth platform could be accessed without restrictions such as having to execute through Opes Prime, as we wanted an investor and adviser friendly platform,” he said.

“Because sophisticated investors want choice, we have brought a wholesale platform down into the retail market.”

The Opes platform is a retail prime brokerage service covering securities lending and equities financing for both Australian and global equities together with a service facilitating the exercise of employee share options.

Rice said the investor could use any stockbroker, as the platform allows financing across all broker ‘buy’ recommended stocks and initial public offers.

Rice said investors want transparency and choices from their platform to enable them to undertake the investment strategies they want.

“Choice is the mantra behind the platform,” he said.

“Advisers tell us they want sophisticated choices for their clients and sophisticated investors are savvy to the importance of choice.”

Rice said products, such as leveraged share trading, reflected the growing interest in these types of investments together with the demand for direct investments overseas.

“These investors have a hunger for investment products that are creative and which have the capacity to turbo-charge their portfolio in up and down markets, and yet have only previously been available to institutional and high net worth investors,” he said

“The Prime Wealth platform brings a suite of institutional grade services to these investors, offering flexibility and control.”

There are no costs for using the platform; the investor only pays brokerage or lending fees if they are using a financing product.

“We are competitive on finance rates and we can co-lend against all stocks on the market,” Rice said.

“Price is important for sophisticated investors and we are coemptive on our product offering, but these investors rate choice very highly.”

Opes plans to add other products to the platform, such as contracts for difference, and Rice said the aim is for the Prime Wealth offering to evolve into areas such as self-managed superannuation funds.