FinClear CCO Tony Lynch said the news “significantly enhanced” the tech company’s platform.
“Our FinClear Platform delivers BlackRock products directly on HIN, meaning the end client always has their investments in their own name,” Mr Lynch said.
“This removes layers of fees and allows us to deliver BlackRock products more cost-effectively.”
The new offering will be particularly ideal for advisers who want to offer their clients alternatives to custodial platforms, with BlackRock Australia’s head of model portfolio solutions, Josh Persky, adding that it will give an advantage to advisers seeking HIN-based access to BlackRock products.
“We’re excited to see the iShares Enhanced Strategic Model Portfolios available on the FinClear platform,” Mr Persky said.
“In line with BlackRock’s purpose to help more and more people experience financial well-being, our iShares Enhanced Strategic Model Portfolios aim to provide investors with cost-effective, diversified investment options to meet their desired individual investment goals.
“This ideally suits the flexibility and transparency the FinClear HIN-based platform offers to Australian investors.”
Wow this is a game changer. Thanks for the heads up IFA.
I still don’t understand how a HIN is a game changer?