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 industry body has confirmed that its life insurer members will not apply ex...
The banned former director of a group of companies that operated a 'one stop sho...
One financial services firm wants the government to subsidise the cost of advice...