Asgard to offer direct shares through E*Trade
Platform providerAsgard Capital Managementhas struck an alliance with E*Trade Australia to allow it to integrate an online share trading service within its wrap product, eWrap.
E*Trade will provide Asgard financial advisers with online access to shares listed on theAustralian Stock Exchange(ASX) through the latter’s front-end technology system, AdviserNet.
Sealcorp investment products associate director Brad Scally says the deal will allow Asgard advisers to tap into the technology available on E*Trade while being fully integrated with AdviserNet.
“Advisers can move seamlessly between AdviserNet and E*Trade. They can link across to the E*Trade platform, execute the trade, track orders and view their contract note history. They can then return to AdviserNet and view their clients’ wider portfolio valuations,” Scally says.
Asgard says it evaluated a number of online share trading facilities and chose E*Trade because of its proven technology and growing share of the adviser market.
E*Trade Australia chief executive Brett Spork says financial advisers are increasingly recognising the benefits of involvement in the direct equity market.
“This offering will provide advisers with a convenient means of investing in shares within a wrap environment,” Spork says.
“We are excited about the fact that an additional 3000 advisers will now have access to our trading platform,” he adds.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
