APA teams with Tricom
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.
AUTHOR
Mike Taylor
Recommended for you
AMP CEO Alexis George has said addressing Australians’ retirement concerns should be "front and centre for policymakers” after its research revealed only half of Australians are confident about their retirement.
LGT Crestone has announced a rebrand, marking a “decisive milestone” following its acquisition of Commonwealth Bank’s high-net-worth financial advisory business in June.
The launch of a low-cost menu for BT Panorama will allow advisers to service a wider range of clients from one platform and potentially run a more profitable business, according to specialist Recep Peker.
Retail investment into private credit funds could surpass that of sophisticated investors, according to ASIC, but the regulator admits it is unsure how and where these individuals are first being introduced to the vehicles.
