FinClear rolls out SMA solution

SMA/products/people-and-products/people-products/investSMART/finclear/

6 November 2018
| By Anastasia Santoreneos |
image
image
expand image

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.

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 4 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

3 weeks 5 days ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 4 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 3 days ago

TOP PERFORMING FUNDS