OneVue’s Unified Managed Account platform will offer two separate investment package options, WRAP+ and UMA VANTAGE, with both to incorporate a simplified fee structure, from August 2013.
OneVue group head of sales Stephen Karrasch said OneVue had made enhancements on the back of consultation with advisers who use the OneVue platform and to ensure greater alignment with the Future of Financial Advice (FoFA) reforms.
“Both investment packages will offer next generation transaction, administration and reporting services, with self managed super fund integration,” Karrasch said.
“Our WRAP+ package will provide greater flexibility than traditional wrap providers in terms of investment choice, as well as streamlined tax reporting.
“WRAP+ will enable advisers and clients to operate cash, margin loans and custodial shares on the platform, and give them access to around 800 managed funds, all ASX listed securities including 70 exchange traded funds, 21 term deposit providers and over 30 separately managed account (SMA) model portfolios.
“For clients who want even greater diversity, our UMA VANTAGE package will incorporate one of the most extensive ranges of investment types in the market, as well as comprehensive daily reporting across all tax entities and product types.
“UMA VANTAGE will comprise everything in WRAP+ and allow for more sophisticated investments such as direct property, loans including limited recourse borrowing arrangements, collectibles, non custodial shares, warrants and structured products.”
Karrasch said because OneVue is an independent business and not institutionally aligned it has no conflicts of interest in the manufacturing of products and therefore has few restrictions in the options it can provide.
He said the packages will apply to all new clients while existing clients will not be impacted unless they choose to transition.
“What is really exciting is simplified tiered pricing has been formulated for these packages so advisers can consolidate multiple asset types via one simple structure,” Karrasch said.
“Rather than product-by-product pricing, most of the available investments in WRAP+ and UMA VANTAGE can be priced collectively, which makes fees easier to understand and communicate.
“The more investment types held on platform and the greater their value, the lower the incremental fee as well.”
Karrasch said the new fee structure had been benchmarked against industry analysis to ensure competitive pricing and that the business was also increasing options around the way adviser services fees can be charged.
