Centrepoint taps into $1.1tn platform market with IconiQ launch
Centrepoint Alliance has launched its investment and superannuation platform IconiQ, in association with technology firm FNZ.
The platform is designed to empower financial advisers in managing their clients’ investments with ease and efficiency, developed on FNZ’s wealth management technology.
It said the launch of the service, which was previously flagged at the firm’s annual general meeting last month, presents a significant opportunity for Centrepoint to tap into Australia’s $1.1 trillion platform market.
IconiQ comprises two solutions: IconiQ Investment and Super Wrap; the investment one provides access to investment options while the superannuation one offers help with portfolio management across accumulation and transition to retirement.
The two services will provide Centrepoint’s advisers with features such as access to global investment managers, competitive pricing and flat administration fees, aggregated pricing for families, digital-first tools and rich functionality.
The investment platform will operate as an investor directed portfolio service (IDPS) supporting both investment and non-superannuation funds. It has also launched a registered managed investment scheme offering separately managed accounts (SMAs) which will enable Centrepoint to add managed account portfolios constructed by other fund managers and asset consultants.
John Shuttleworth, chief executive of Centrepoint Alliance, said: “In developing IconiQ, we have ensured that advisers have access to one of the highest quality investment management and portfolio administration solutions at highly competitive prices.
“As an ‘open architecture’ solution provider, we are committed to providing a choice of platforms and investment managers. We strive to ensure that clients achieve the best after-fee returns without paying excessive fees for portfolio administration. Leveraging our scale and expertise, we are proud to offer a globally leading platform solution.”
FNZ chief executive for Asia Pacific, Tim Neville, added: “IconiQ is a state-of-the-art platform which will empower advisers with the tools and capabilities they need to grow and deliver for their clients. FNZ is proud to partner with Centrepoint to bring this innovative product to market and continue to drive personalised and efficient investment solutions across the wealth management sector in Australia.”
Last month, the firm hired Colette Thunig as head of distribution for platforms and investment management.
Within the role, she will be responsible for the licensee’s distribution strategy, business growth and client relationship across its IconiQ platform and Ventura IQ managed portfolios.
AUTHOR
Laura Dew
Recommended for you
As private markets maintain their position in the spotlight amid ASIC scrutiny, an adviser and an investment specialist have highlighted the growing reliance on AFSLs to guide advisers’ use of the asset class.
Vital Business Partners has thrown its support behind ASIC’s review of advice businesses’ use of offshore service providers, urging business to reassess their own set-ups.
Forbes Fava Saville has announced the appointment of a new senior financial planner, expanding its ranks to help serve clients across its Victoria offices.
Marking off its first year of operation, Perth-based advice firm Leeuwin Wealth is now looking to strengthen its position in the WA market, targeting organic growth and a strong regional presence.
