Direct equity reporting part of the Strategy
The Strategy Portfolio group has added a direct share trading facility to its flagship wrap account, the Strategy Portfolio Service.
Strategy Portfolio national manager Mark Duncan says that given Australian investors now boast the highest rate of direct share ownership in the world, it was essential that the wrap could consolidate the reporting of shares as well as managed funds.
“The [direct share] facility expands the scope of consolidated reports to create a holistic service capturing most corners of a client’s financial planning needs,” Duncan says.
The new facility will initially enable advisors to consolidate the reporting of shares bought and sold through theCommonwealth Bank’son-line trading arm Commsec, although Strategy has plans to bring more brokers into the service over the next year.
The service will also be directly linked with a cash management trust facility with the Adelaide Bank, which can be used to settle trades.
Strategy offers advisers the opportunity of earning part-ownership of the wrap service based on the amount of funds they have invested.
Strategy’s 18 dealer groups and 100 advisers with at least $5 million of funds under management can gain equity in the wrap account, allowing them to receive dividends and benefit from the result of any sale or listing.
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