Matrix talks master trusts
Matrix Financial Group is poised to sign up with a master trust supplier, according to managing director Allison Dummett.
"We are well-advanced with our discussions and are in the process of doing due diligence on a provider," she says.
The Matrix-branded master trust would be used for superannuation, allocated pension and corporate superannuation investors. Dummett says that once the master trust is up and running, which is expected to be before the end of the year, the group will then look at a wrap account.
Matrix outsources many of its services, such as compliance audits and training, to ThreeSixty. The group now has 37 proper authority holders in most states and $500 million of funds under administration.
Recommended for you
Financial advisers are reminded to ensure their CPD is up to date with the Financial Services and Credit Panel making its second determination in a week after an adviser failed to meet the requirements.
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
While efficiency remains a top priority for Australian advisers, State Street has revealed the profession is now juggling this desire with the need to maintain personalisation of its service offering.
A possible acquisition of data provider Iress is becoming a greater likelihood after the firm announced it is engaging with multiple interested parties.
