AM Corp to roll out bureau service
AM Corporation has initiated a series of improvements to its web based services ahead of its moves to launch what it calls a “bureau” service.
Internet services manager Brendan Gallagher says while the service will provide consolidated reporting, it is not strictly a wrap account.
"It is labeled as a bureau and we're not calling it a wrap," he says.
The service will track the movements of all investments held by clients of AM Corp, including those held externally.
"At present, we track the AM super and non-super investments and will track others through the use of APIR codes for investment products and ASX codes for direct equities, which should be online by March," Gallagher says.
The group is in the process of making a series of incremental changes and improvements to its site with account summaries, transaction histories and asset allocation break-downs available to advisers.
Gallagher says the group plans to add to this in stages over coming months with the improvements to each section already available as well as shifting some paper based functions online. This will include electronic forms, further technical information and manuals and the option of replacing paper-based statements for advisers and clients.
According to Gallagher, the group is also looking at supplying advisers with comparisons of returns and performance relative to a range of benchmarks.
This will fit in with data on the allocation of funds to other managers and their performance as part of AM's Managed Investment Managers (MIM) strategy.
AUTHOR
Jason Spits
Recommended for you
Shaw and Partners’ new national head of private wealth believes the biggest challenge for financial advisers right now is being able to deliver efficient advice delivery amid a complex regulatory environment and growing investment universe.
Global equity manager Orbis Investments has appointed a head of marketing from Capital Group as it becomes the latest manager to target advised retail investors.
While Australia prepares for the $3.5 trillion intergenerational wealth transfer, two female advisers have discussed why women may be detracted from seeking advice and the impact of the gender imbalance in the industry.
ETF provider Betashares has launched a global bond ETF as investors pour billions into cash and fixed income ETFs.
