Investment Administration Services (IAS) has reached the $1.5 billion mark in funds under administration, which the specialist managed accounts administrator claims is a milestone — having been established only two years earlier.
IAS, which develops turnkey managed account solutions for investment managers and dealer groups, offers portfolio administration, documentation, investment programs, web-based reporting, custody, compliance and fee collection.
The firm supports dealer groups wanting to offer in-house managed portfolios to their clients, which is a popular option for dealer groups with experience and resources wanting to manage portfolios directly, including listed or fixed interest securities and wholesale unit trusts. It also allows investment managers to outsource their administration, which is an important service for IAS.
IAS boss Toby Potter said advisers are approaching managers to look after portfolios directly for their clients, which allows the adviser and manager to offer new services to their clients.
“Managers will not support the administration of dozens of individual accounts in the $1 million to $20 million range, which is currently the domain of unit trusts and platforms. The IAS solution allows them to service this market and streamline their back-office utilising our securities allocation and cloning portfolio capabilities,” he said.
