AMP signs on with InvestmentLink
Electronic transaction platform provider InvestmentLink has won overAMP Financial PlanningandHillross Financial Servicesto use its e-Portfolio service, raising its market share by 10 per cent.
The deal with AMP and Hillross will add 1500 advisers to the e-Portfolio platform, and takes InvestmentLink’s total client base to more than 6000 planners and 800,000 investor accounts, which InvestmentLink claims further cements it as the industry standard for consolidated managed fund data.
“AMP and Hillross joining is certainly a big endorsement of our service. Up until now, AMP has never been a part of the InvestmentLink camp,” InvestmentLink chief executive Peter Phillip says.
The e-Portfolio system will be fully integrated into AMP’s online reporting platform, gathering all of a client’s investments across different fund managers and consolidating them for financial planners in the one report.
AMP and Hillross now joinCount Wealth Accountants,Colonial Financial Planning, TD Waterhouse andMacquarie Strategic Financial Planningas groups which have taken up e-Portfolio.
InvestmentLink started nine years ago as a co-op between fund managers in an effort to standardise an information exchange service, and was bought out by CPS Systems in 1997.
Recommended for you
After a brutal month for adviser numbers, the net loss for June now stands at more than 100 advisers, but the financial year is still on track to end in positive territory.
Two advice platforms have been identified by Adviser Ratings as standouts for efficiency as time-pressured advisers become evermore fickle in their platform selection.
Private wealth manager Escala Partners has increased its alternatives allocations to more than a third in the past three years, describing the asset class as offering “fertile ground” for diversification.
The Financial Services Council has recommended implementing a per capita limit per annum for financial advisers when it comes to the CSLR levy to allow them to expand their business without levy uncertainty.
