Oasis signs fourth partner in growth spurt
OasisAsset Management is pushing further into the wrap and master trust outsourcing arena after signing its fourth partnership deal and making no secret about being in talks with other parties.
Taylor Bowring, a Sydney-based financial planning business, is the latest recruit. It joins Australian Financial Services, Matrix Financial Group and Professional Investment Services (PIS).
Oasis managing director Bruce Tustin says the inclusion of Taylor Bowring broadens the group’s outsourcing range. Oasis helped launch Taylor Bowring’s wrap platform, Wealthtrac, in February 2002.
Oasis has brought to market PIS’s master trust, Mentor Investment Services, Australian Financial Services offering, Strategy, Matrix’s master trust and now Wealthtrac. The group also received a boost in November 2000 when private equity firm Pacific Equity Partners (PEP) made its first move into retail financial services by making an undisclosed investment in Oasis.
However, as well as the latest dealer recruitment adding value through products, Tustin says the inclusion of Taylor Bowring is all part of the group’s plan to reach a total client pool of eight clients.
Oasis has already amassed an immense amount of operating inflows, which Tustin says will increase dramatically over time.
“Our inflows are currently $50 million a month, and we are expecting $100 million in the next three to four months,” Tustin says.
“We are running at $1 billion a year. In the next year, we believe it will double,” he says.
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