Count reviewing platform options
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Listed dealer group Count Financial has confirmed it will seek to take ownership of its preferred investment platforms in response to proposed regulatory reforms that would see volume rebates banned.
In his first public presentation after being appointed chief executive earlier this year, Andrew Gale said the group was currently reviewing its investment platform arrangements. Count's current primary platform is BT Wrap.
Gale said the group was focused on ensuring its platform offering remained competitive, while also considering strategic options in light of impending regulatory reform. The group has indicated for some time it might seek to take ownership of its platform in response to the removal of volume rebates.
Gale confirmed that strategy yesterday and said the group was considering becoming the responsible entity for its preferred platform. Gale also left open the option of the group developing a multi-manager capability in-house that would become part of a core investment offering suite.
By introducing one or both of these options, Gale argued Count could retain its "share of the value chain" despite the impending regulatory changes.
Count Financial executive chairman Barry Lambert pointed to the fact that the group had previously held ownership of its platform, before outsourcing it to BT.
"BT, in their wisdom, decided they would take over, but the understanding has always been that we could reverse that position at any time," Lambert said.
AUTHOR
By Beaman
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