APIR extends coding to SMAs
APIR Systems is extending its coding system to separately managed accounts (SMAs).
"SMAs and their models have less structure than we see in funds and proliferate through white labelling so it has been a major exercise for us, but I think the effort will be a worthwhile contribution to the industry," said APIR managing director Andy Hutchings Broso.
The head of strategic developments at APIR, Bob Luff, said that SMAs were gaining traction in the market and needed identification.
Damian Holland, a director of the Institute of Managed Account Providers, said the new APIR coding of SMAs would help simplify the distribution and processing of accurate information about the accounts.
APIR issues codes to fund managers, trustees and financial products in the Australian market.
Recommended for you
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
As advisers seek greater insights into FSCP determinations, what are the various options considered by the panel and can a decision be appealed?
