Ipac goes global
Ipac Securities is fast expanding its global reach and has its integrated systems op-erating in New Zealand, Taiwan and, now, in South Africa.
Ipac Securities is fast expanding its global reach and has its integrated systems op-erating in New Zealand, Taiwan and, now, in South Africa.
And, according to Ipac chairman Arun Abey, negotiations are underway for further exports to Asia and Western Europe.
He says Ipac’s joint venture with South African financial services company Brait SA is up and running - and trading as Ipac South Africa.
As part of the deal, Ipac has licensed to the joint venture the exclusive intellectual property rights in South Africa to its Strategic Service System.
This will give the South African operations access to Ipac’s international invest-ment research, client portfolio management system, administrative, reporting and communication system, strategic partner program and financial planning models.
Andrew Bradley, chief executive of the joint venture company, says he came across Ipac by accident — at a conference in Seattle about five years ago.
“We found that its approach to doing business was one we believed in and the one that made the most sense,” he says.
The joint venture already has partnerships with 10 independent financial planners in South Africa and plans to grow this number to between 40-50.
It has also taken over the management of Brait’s existing unit trust range with around $A150m in funds under management.
Brait is one of South Africa’s leading merchant banks, listed on the South African, Luxembourg and London Stock Exchanges.
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
