Royaland SunAlliance Financial Services (RSAFS) is looking to increase its stake in the ever critical investment platform market with the launch of a new flagship wrap account.
The non-superannuation wrap, to be called Vista, is to be rolled out through RSAFS’ network of financial planning dealer groups, including Cameron Walshe and Guardian Financial Planning, by the end of this month.
RSAFS national sales manager Wayne Baker says the wrap will sit alongside RSAFS existing investment platforms — including its Optimum master trust and two other superannuation master trusts — to round out the group’s offer to financial planners.
“The launch of Vista is a significant milestone in our vision to provide holistic solutions for our advisers and clients,” he says.
RSAFS has hired three additional business development managers to support the launch of the platform.
But the launch will coincide with continuing speculation that RSAFS has been put up for sale by it London-based parent, the Royal and SunAlliance Insurance Group.
In a report released last week, the Morningstar research group said the ownership uncertainty had impeded growth in RSAFS’ funds management arm, Tyndall Investment Management.
However, Morningstar welcomed RSAFS’ plans for the wrap, saying it would indirectly help the distribution of Tyndall funds.
The Vista wrap, which has been on the drawing board at RSAFS for the best part of two years, was built internally by the group in conjunction with an external software provider.
