Summit trades online
The Summit master trust is to provide online share trading through a deal struck with Sanford.
The Investor Directed Portfolio Service (IDPS) will be rolled out to advisers during the next couple of months.
AXA marketing general manager Richard Shermon says the company wants advisers to be online to the stock exchange.
"Accredited advisers will now be able to offer stock trading as part of their overall service to clients," he says.
Summit provides access to 300 advisers and has about 16,000 clients.
"We are taking online broking to the suburbs, bringing access to the world markets, as part of an overall financial plan, to Summit customers," Shermon says.
"IDPS places a highly sophisticated solution on the desktop of advisers in a very cost-effective manner."
Summit has about $2 billion of funds under administration.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
