FinClear rolls out SMA solution
Australian wealth management tech provider, FinClear, has rolled out its low-cost managed account solution with InvestSMART, 'Professionally Managed Accounts'.
CEO, David Ferrall, said the traditional custody model is expensive and clunky in terms of admin, and doesn’t offer real-time transparency, but a HIN-enabled model brings transparent investing.
“A HIN-enabled model is much more efficient and a lot cheaper, meaning advisers can offer their clients the same managed account investment experience for much less,” he said. “Many retail clients don’t understand the custody arrangement and are more comfortable having shares and ETFs held in their own name.”
The solution would be distributed by FinEx Wealth, and director Steve McLean said the current demand for HIN-enabled solutions was extremely strong.
He said in the current climate, anything that could lower costs and provide more transparency was going to be in demand.
“Wealth management in this country is ripe for improvements from a technology perspective, and I’m very excited about the benefits FinClear can bring to the table,” he said.
AUTHOR
Anastasia Santoreneos
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