Wealthtrac adds share trading to platform
Wealthtrac has added a share trading facility to its platform service that provides six selected panel brokers, which the company says will provide advisers with greater flexibility.
“Many advisers will have their own broker relationships, so this allows them to maintain that relationship, rather than using a broker of our choosing,” said Wealthtrac managing director and chief executive Matthew Johnson.
The external panel of brokers includes Bell Potter, JB Were, Morgan Stanley, Lonsec, RBS Morgans and Shaw Stockbroking.
The service is charged on a user-pays basis, which Johnson said would result in a lower cost and give advisers direct access to corporate actions.
The Wealthtrac Share Trading service also provides investors with an individual holder identification number, which means investors can allocate corporate actions such as rights issues and dividend payments directly to the underlying shareholder rather then the entire shareholding of the platform, according to Wealthtrac.
AUTHOR
Chris Kennedy
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