Beacon Group reveals platform agreements

Beacon Financial Group managing director Peter Daly has unveiled agreements with platform service providers OneVue and Mason Stevens.

OneVue's unified managed account (UMA) platform will soon be made available to Beacon Group's 191 advisers, along with a tailored managed discretionary account (MDA) that is being built through Mason Stevens, said Mr Daly.

The full suite of services available to the new group's advisers – including some of the tools developed by former Professional Investment Services managing director Robbie Bennetts, who has taken a stake in Beacon Group – will be rolled out next week, said Mr Daly.

While Mr Daly acknowledged that Beacon Group has legacy systems (the dealer group is the result of a merger between The Financial Link Group and Titanium Group) he pointed to the benefits of starting “from scratch”.

“You can have a look at what's best in the marketplace. What we've tried to do is select partners that we think are going to give our practices that edge,” said Mr Daly.

Mr Daly is the former chief executive of Australian Financial Services (AFS), which went into administration earlier this year.

He was removed from his position by the AFS board in May 2012.

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