Publicly listed investment portfolio administration service provider APA Financial has signed an agreement with Tricom Investment Management for the introduction of a separately managed account (SMA) service.

In an announcement released on the Australian Stock Exchange today, APA said it expected that the Tricom/APA SMA would be launched by December and that it would allow a dealer group to set up its own model portfolio or use its preferred investment managers, with the potential to brand it as belonging to the dealer group.

Commenting on the development, Tricom’s business development manager Bill McConnell said the company was delighted to have formed the relationship with APA.

“We believe this joint service offering will be a precursor to a number of leading edge joint financial services offerings between APA and ourselves that will be developed in the near future,” he said.