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
The Financial Advice Association Australia has implored advisers to reevaluate their exposure to AML/CTF obligations ahead of new reforms that will expand their compliance requirements significantly.
With UBS Asset Management chief executive, Alison Telfer, set to join Schroders, the firm has appointed a company veteran as her interim successor.
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
