QIC to roll out Milestone Group’s pControl
Investment house QIC announced last week that it will replace its in-house core funds systems with Milestone Group’s pControl fund processing system.
pControl is a unit pricing platform that specialises in handling complex fund structures.
QIC general manager of operations Darren Mundie said QIC had $80 million under wholesale management across a broad range of investments and needed a platform that could handle complex business needs.
“The configurable nature of pControl supports our customisation requirements while minimising implementation effort and ongoing support,” he said.
QIC will use pControl for its unit pricing and validations, cash allocation, unitised order management and related accounting, tax processing and reconciliations.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.