One of Centrepoint Alliance's partnered platform solutions has surpassed $1 billion in funds under administration (FUA), the company announced yesterday.
Centrepoint group executive Mat Walker said in a statement it was a significant milestone for the Investment Exchange platform.
"This is indicative of the strong support by advisers and their clients for Centrepoint Alliance investment solutions, which now has more than $3 billion in its solutions overall,” Mr Walker said.
One of a number of "world class" investment platforms partnered by Centrepoint Alliance, Investment Exchange is a platform partnership between Centrepoint Alliance and Colonial First State (CFS), the statement said.
General manager of distribution for CFS Matt Harrison said he was delighted that Investment Exchange has reached this milestone.
“CFS has enjoyed strong collaboration with Centrepoint Alliance over many years. Investment Exchange’s growth reflects both this relationship and our commitment to meeting the needs of the independent advice market,” he said.
Centrepoint recently announced the achievement of its first $100 million in the group's Ventura Managed Account Portfolio Service (vMAPs); this has now reached nearly $200 million in FUM.
“Centrepoint’s platform solutions are developed through partnered arrangements, which respect and protect the adviser-client relationship," Mr Walker said.
“We believe the significant growth in Centrepoint Alliance Investment Solutions has been due to the open architecture approach we take to support non-aligned dealers, advisers and their clients.
“In partnership with Colonial First State, we look forward to continuing the evolution of the platform to meet the changing needs of non-aligned dealers, advisers and their clients.”
The ifa Excellence Awards are back in 2021 and nominations are now open! This prestigious accolade recognises exceptional professionals within the financial advice industry, shining a light on the outstanding achievements from the nation's best and brightest. If this sounds like you or someone you know, then nominate today for the ifa Excellence Awards 2021!
The corporate regulator has cancelled the licence of a Queensland based SMSF advice firm that failed to lodge its financial accounts. ...
The Federal Court has issued BT and Asgard penalties of $1.5 million each for charging fees for no service and making misleading statements. ...
The wealth giant has announced a raft of further changes to its advice model, including the conclusion of client register buy-back arrangements for i...