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
Recommended for you
Iress has announced it will divest its superannuation business as the latest step in its transformation program, allowing it to focus on wealth management.
The corporate regulator has named its new chief executive, who is set to replace retiring interim CEO Greg Yanco in March.
Following the departure of its chief marketing officer last year, AMP has appointed a successor to take up the position with the appointment coming from the US.
The Financial Services Council has appointed Justine Earl-Smith as executive director for commercial partnerships and growth, a newly created role for the organisation.
