Navigator outsources back office share trading
Australian Clearing Services (ACS) has formed another alliance with a financial services provider — Norwich Union’s Navigator.
Australian Clearing Services (ACS) has formed another alliance with a financial services provider — Norwich Union’s Navigator.
The new share trading service is to be branded Navigator Share Service with ACS providing the back-office. This will allow investors and planners to actively trade shares through a centralised administration system.
In recent months ACS has signed up similar back-office alliances with Colonial Stockbroking, Na-tional Australia Bank for margin lending and broker Lodge and Partners.
ACS managing director Alasdair Thomson says there is a growing trend for alliances between big, well-established financial services groups and small, innovative firms offering specialist services. The growing ownership of shares by Australians is also putting pressure on financial service pro-viders.
“The new breed of shareholder wants smooth transactions, speedy reporting and much more exten-sive documentation than in the past,” he says.
“They want to know their portfolio value, income levels, transaction history and capital gains tax positions at any time.”
Brokers in the National Australia Bank alliance have online access to a client’s margin lending ac-count at the bank and can check the loan electronically, rather than phoning each time.
The new Navigator service will be available to all 1200 advisers using the wrap service.
Navigator managing director Matt Walker says advisers can monitor clients’ portfolio values and give them a report at the year-end explaining income and tax positions.
“While Navigator is the administrator, the process is still controlled by the client’s financial ad-viser,” he says. “Our service simply provides advisers with leading-edge investment administration and a reporting facility.”
A client’s existing share portfolio can be transferred into the new service without realising capital gains and losses, Walker says.
Any discount cards and loyalty schemes being offered by an equity will be transferred to the client.
Navigator has more than $4.8 billion of investor funds under administration and attracted $1.6 bil-lion in the last year.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
