Merit Wealth (a part of Easton Investments Limited group along with GPS Wealth) is replacing its existing self-managed super fund (SMSF) advice application with Seido, recently releasing it to its 400 strong network of accountants with limited SMSF authorisations nationwide.

According to YTML chief operating officer Piew Yap, the power of Seido is its ability to allow businesses to differentiate their value proposition to clients and its deep connectivity between financial apps which can significantly cut the cost of doing business.

“We are excited to have an innovative group like Merit Wealth using Seido,” he said. “Since Seido’s launch in October last year, the number of users has increased steadily, now exceeding the 700 mark. We anticipate continued strong growth in both user numbers and app partners over this calendar year.”

“With increasing regulation and higher client expectations, the most successful advisers will be those who have the technology that empowers them to efficiently deliver outstanding advice,” said Grahame Evans, executive director, Easton Wealth.

“We made a decision to move to YTML/Seido platform because it is a truly integrated solution that will enable our network to be more agile while maintaining compliance with their obligations both from a quality advice perspective and a recordkeeping perspective.”

He added: “Seido does not allow a final SOA to be produced until we have vetted the document and tracks all versions and inputs ensuring a compliance trail is created. Importantly, it’s integrated CRM ensures the proper record keeping for advice files separate to any accounting files.”

YTML’s focus is on deeply integrating third-party fintech solutions into Seido, giving users the choice and flexibility to build their own integrated financial ecosystem from a range of fintechs.

Following the successful launch of Seido, YTML has announced it is expanding its team with the appointment of Helen Thom to Head of Distribution, bringing more than 20 years’ experience in the financial services industry to YTML.

Thom previously spent four years at financial services technology provider Midwinter Financial Services where she was most recently General Manager, Distribution. In her time at Midwinter, Thom was Head of Distribution and a Senior BDM in 2015.

Prior to this, Thom held roles at Ignition Advice (previously Ignition Wealth), Decimal, AMP, AXA and RetireInvest.

Thom has worked with a range of stakeholders including dealer groups, practices, advisers and accountants to deliver technology solutions to improve and strengthen their business efficiencies and processes.

The post YTML signs Merit Wealth and expands team appeared first on AdviserVoice.

GPS Wealth Managing Director, Grahame Evans, said, “The team at HUB24 have been very responsive and have worked extremely effectively with us. This has been instrumental to HUB24 swiftly tailoring, branding and implementing our CAREportfolio investment suite.”

“The decision to partner with HUB24 has multiple benefits.  Our advisers now have a modern flexible platform solution that means less paperwork, more transparency and greater control over clients’ tax outcomes. We believe our innovative and flexible portfolios provide a significant point of differentiation for GPS Wealth. With a best of breed platform, our advisers have the support to run their practices more efficiently to solve their clients’ advice needs.”

The CAREportfolio suite has been purpose-built to meet the personal investment outcomes of clients through both accumulation and drawdown phases, underpinned by a sound investment philosophy.

HUB24 Managing Director, Andrew Alcock commented, “It’s fantastic to work with like-minded and independent organisations such as GPS Wealth. It’s been a pleasure using our technology and experience to help Grahame and the team achieve a tailored and integrated platform solution.”

“GPS Wealth’s advisers and their customers will enjoy the full benefits of HUB24’s market leading platform together with the fully transparent, cost-effective implementation of their portfolios. A number of applications have already been received as advisers gear up to use the new platform.”

The post GPS Wealth white label speeds to market with HUB24 appeared first on AdviserVoice.

Grahame Evans

Independently owned national licensee GPS Wealth has selected HUB24 to provide a new managed account offering for its member firms. The initiative will see HUB24’s award winning technology deployed in a fully customised and branded manner and will be centred on GPS Wealth’s innovative investment portfolios.

With total funds under advice well in excess of $1 billion, GPS Wealth has grown in recent years from a boutique licensee to more than 60 firms nationally. The business has attributed much of its success to intensive client engagement including the industry recognised Game of Money and its investment philosophy  known as CARE.

GPS Wealth Managing Director Grahame Evans said “Our group continues to develop, and it’s paramount to support practices with the best possible tools and investments to enable delivery of quality and consistent advice to our clients. HUB24 impressed us with their state of the art platform technology, flexibility and ability to support our key managed account range across both superannuation and investment”.

He added “GPS is an independently owned group, and it is our goal to be aligned with like-minded businesses that are at the forefront of innovation and change and have the systems to support us as we develop”.

HUB24 recently announced it has reached $1.4 billion of funds under administration which underscores the company’s position as one of the fastest growing platforms in the country. HUB24 Managing Director, Andrew Alcock commented, “We’re very proud that GPS Wealth has selected HUB24 for this new venture. This initiative supports the demand we are experiencing for our market leading functionality in the rapidly growing managed account sector. We will continue to focus on supporting independently minded advisers and licensees, such as GPS Wealth”.

The post HUB24 partners with GPS Wealth for new white label appeared first on AdviserVoice.

Grahame Evans

Independently-owned dealer group GPS Wealth has slashed investment fees in half by implementing a Managed Discretionary Account (MDA) solution and turning its back on expensive master trusts and wrap platforms.

New clients of GPS Wealth pay an average investment management fee of between 0.6 and 0.8 per cent of assets under advice compared to fees of up to 1.5 per cent previously, according to GPS Wealth managing director, Grahame Evans.

The group also expects to transition around 60 per cent of existing funds under advice into a MDA structure over the next couple of years.

“The MDA is only for new money at this stage but we’ll be seriously considering the service for existing clients as part of the review process,” Evans said.

“Platforms and managed funds are still very expensive and inflexible, and our philosophy is to add value through asset allocation and by keeping fees down and preventing clients from making silly, emotional investment decisions.”

“The future of financial planning is one where investments are held in the investor’s name, costs are minimised by using passive investments where suitable and advisers better educate their clients about behavioural finance.”

Established in February 2012 by former PIS advisers, Greg Holman and Rob McGregor, GPS Wealth now has 32 practices and over 50 financial advisers across Queensland and New South Wales.

Evans, formerly general manager of PIS, joined the group last year. He said the managed account structure allowed the group to build tailored direct portfolios based on clients’ individual objectives and tax situation.

GPS Wealth signed a deal with specialist MDA operator, managedaccounts.com.au in May 2013, after a rigorous search. The group spent six months implementing the service, which involved establishing an investment committee, investment charter and a new risk management framework.

Evans said the MDA solution underpinned the group’s investment philosophy and mantra of “Exciting life, boring money”.

David Heather, chief executive of managedaccounts.com.au said legislative and structural changes to the financial planning industry were driving many advice businesses to find a more efficient investment and administration solution.

“A managed account solution can deliver many benefits to advice businesses, advisers and clients,” Mr Heather said.

“Advice businesses can centrally manage and implement direct portfolios that and advisers can focus on delivering portfolio solutions that meet their clients’ personal needs and objectives without the need to produce a Record of Advice for each change to the portfolio. There’s less administration and paperwork and more time in front of clients.”

The post New dealer group launches low-cost investment solution appeared first on AdviserVoice.