MyState launches new managed fund platform

From

Melos Sulicich

MyState Limited (ASX:MYS), the banking and wealth management group, today announced that its wealth management business, TPT Wealth, has launched a new platform providing managed fund investors with national digital services.

MyState’s Managing Director and CEO, Melos Sulicich, said, “We are modernising wealth services for managed fund investors as part of a multi-year ongoing investment in the TPT Wealth business. The launch of our new Investor Portal completes the first phase in the strategic development of our wealth platform. This brings a new digital capability allowing investors nationally to manage their investments online including making trades or topping up their investments. It enables investors to apply online for new products with straight-through processing, and newly registered fund investors can start transacting within a very short timeframe.

“TPT Wealth’s services now complement the digital services offered by MyState Bank. This continues our strategy of serving customers through modern digital platforms and skilled, friendly customer service, providing a great experience that allows customers to access products and services when they want, how they want.”

New online services are provided through a digital funds administration and registry portal powered by Link Group, which allows investors to make contribution and redemption requests, update their personal contact details and view statements at their convenience. Link Fund Solutions, part of Link Group, will be the custodian, administrator and registrar for TPT Wealth’s services, providing operational efficiency as the business gains scale.

TPT Wealth is one of Australia’s oldest and most respected providers of wealth solutions, and its managed funds have $1.2 billion in funds under management. The business is undergoing a multi-year digital transformation to place greater control in the hands of fund investors and the group’s funds management and trustee services customers.

Transition to a digital platform is a critical step towards building a national funds administration and distribution service, allowing wealth products to be accessed conveniently from anywhere in Australia. This enables the group to serve its customers nationally through cost-effective, efficient digital systems, supported by a broader customer service network located in Tasmania and Australia’s eastern seaboard.

You must be logged in to post or view comments.