Matt Heine

FinClear, Australia’s leading independent technology and infrastructure provider for financial market access, has announced a new partnership with Netwealth, an ASX 100 company and one of Australia’s fastest growing wealth management businesses, that will enable it to offer individual HIN data and trading to investors and wealth professionals.

FinClear will provide the capability via APIs to the Netwealth platform, augmenting its current reporting and trading solution.

The Netwealth platform currently offers trading via a custodial solution but is looking to provide greater flexibility to its clients with the added option of trading and reporting on their individual holdings, which will be available either via the Netwealth platform or in conjunction with a stockbroker or wealth manager that transacts with FinClear.

The iHIN offering will streamline processes for financial advisors and stockbrokers who have clients with HIN holdings, as they will now be able to execute trades from the Netwealth platform or from their own trading screens in a quicker, more efficient and more secure manner, whilst also being able to access custodial assets, like managed funds, international equities, domestic and foreign bonds or managed account models.

Netwealth’s decision to partner with FinClear was driven by the extensive capabilities of FinClear’s market-leading API broking technology, enabling Netwealth to efficiently and cost effectively integrate with FinClear’s systems.

Commenting on the appointment, Matt Heine, CEO of Netwealth, said: “We’re excited to be adding iHIN administration and reporting for our users, as part of our mission to continuously improve efficiencies, user experiences and customer options as we expand our platform to service greater segments of the Australian wealth management industry including stockbrokers and HNW firms.

“When we set out to bring this additional offering to customers, FinClear was the clear choice of provider. We have tried and tested its proprietary tech, expertise and flexibility, and we knew it would be a straightforward and efficient process.”

David Ferrall, CEO of FinClear, said: “We are proud to continue to grow our role in the wealth space, improving financial markets infrastructure for many Australians. This offering will improve the experience for those using Netwealth’s gold standard services.

“Now end investors on the Netwealth platform have the option to hold assets directly in their own name, and financial advisors or wealth managers will have a far more efficient process for trading, administration and reporting.”

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David Ferrall

Lonsec Fiscal Holdings Pty Ltd (Lonsec) yesterday announced that it has sold its stockbroking business to FinClear Pty Ltd (FinClear).

FinClear is a locally owned financial services business providing wholesale market access and outsourcing solutions. This acquisition positions FinClear with a unique value proposition to deliver independent and quality execution and outsourcing services to wholesale advisory clients.

Meanwhile Lonsec has intensified its commitment to innovate and expand its investment and superannuation research services, with a core focus of enabling better investment outcomes for its intermediary clients – financial advisers, superannuation funds and fund managers.

For existing stockbroking clients, it will be business as usual, with services and staff remaining unchanged by the acquisition. The experienced team of advisers in Melbourne and Sydney will continue to deliver the quality investment advice, portfolio review and execution services that they are known for. Importantly, no additional data or re-signing of documents will be required from clients.

Under FinClear’s ownership, the stockbroking business will continue to provide clients with exclusive access to Lonsec’s direct equity model portfolios – a portfolio service that has delivered consistent value add to advisers and their clients for more than fifteen years. Clients will also have access to Lonsec’s ASX200 equity research service, which is tailored to specifically meet the needs of the financial advice market.

“Lonsec and FinClear’s commitment to work closely together means that wholesale advice clients will essentially get the best of both worlds”, said Amanda Gillespie, Lonsec’s CEO. “They will benefit from access to Lonsec’s proven model portfolio and research capabilities, while also knowing that they have the support of a locally owned and independent wholesale broking service through FinClear.”

David Ferrall, CEO of FinClear, commented, “We believe that Lonsec Stockbroking is the only independent, non-conflicted, wholesale broking services business in Australia and we are excited to be building out increased services for financial intermediaries in execution, clearing and settlement of ASX and Chi-X listed equity and derivative transactions. In particular, we see a significant opportunity to support the growing trend of new wealth advisory firms being established by previous employees of large financial institutions.”
FinClear will transition the stockbroking business to new branding in due course.

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