IFA market demands online trading partners
Demand from DIY investors has expanded Xpress Super's online mainstream share trading providers, which now offers Bell Direct, CommSec, and Open Markets.
Self-managed super fund (SMSF) administrator Xpress Super said there was an overwhelming amount of investors wanting low cost share trading platforms.
"It appears clients are more loyal to their trading platform than their administrative providers, and when they find a comfortable fit they don't want to move, especially when it comes with the benefits of the low annual fixed fee," Xpress Super chief executive, Olivia Long, said.
"Xpress Super was designed for the DIY investor, but due to overwhelming demand from the IFA [independent financial adviser] market, we have now included platforms utilised within their businesses which expands our clientele to those of financial advisory firms."
Long said new partners were based on core offering and because the firm relies on data automation only some share trading platforms can be utilised to achieve daily online reporting.
