TheSymetryinvestment platform has flagged an extensive expansion program adding to its investment services, while also moving into a range of dealer services, financial planning and client access tools.
The expansion, under the new name of Symetry Portfolio Service, is based around the group’s recent announcement that it had signed a deal with platform technology provider,Avanteos.
However, the expansion goes further with the addition of research, compliance tools, training, professional indemnity cover, marketing initiatives for dealers and capital access for business development.
On the investment side, the group will also add a non-custodial share service with full access to shares on theAustralian Stock Exchange, as well as the addition of cash management service through Adelaide Bank.
Symetry chief executive Don Clifton says the new features, slated for a roll out this month, will sit alongside the existing investor directed portfolio service (IDPS) and the group’s superannuation and allocated pension offerings.
So far, Symetry has signed up van Eyk Research as a service provider, with Don Wiggins Consulting providing compliance services and manuals,Integratecsupplying training, andNSP Bucksupplying investment profile construction.
Clifton says Symetry has already offered services in the areas of portfolio management, investment placement, monitoring and reporting, as well as delivery across the web.
He says the expansion will result in Symetry being able to offer services into all areas of the adviser’s business such as business management through the training and compliance service, client interaction through the existing investment services, and planning tools through research and calculators.
The platform currently has $860 million in funds under advice but Clifton says the group will need to lift that to above $1.5 billion if it wants to remain a long-term player in the market.
Clifton says the group has made the move to offer more services as it sees master trust and wrap services are a plug-in to a client management system and not an end in their own right.
