Stephen brings over 30 years’ experience in investment management, retail, wholesale and institutional product distribution. Stephen joins from OneVue Ltd where he held positions as Head of Group Sales and Head of Distribution for Platform Services for a combined period of 10 years. Prior to this Stephen was at Philo Capital Advisers and Macquarie Bank and held similar roles as Head of Sales & Marketing and Head of Distribution.

Stephen holds a Bachelor of Economics from the University of Queensland and completed his MBA at the London Business School. He is well known and respected across the national Financial Adviser community and has good reach across dealer groups to help Clime achieve our goals.

“It’s an exciting time to be joining Clime. I am a firm believer that advisers’ clients will benefit from the quality products and services Clime has on offer. I look forward to working with the Clime team to bring these products to new customers and markets”, says Mr Karrasch.

Rod Bristow, Clime CEO adds “Clime has enhanced its investment offer and is actively investing in future growth through supporting financial advisers with high quality investment products for their clients. We are pleased to have Stephen join our team and his expertise will add significant value to our customers and partners, leveraging the strength of Clime’s traditional wholesale business and outstanding investment performance track-record”, he said.

Since listing on the ASX in 2001, Clime has been a regular ‘no-nonsense’ commentator on markets, helping every day Australian take positive action to improve their wealth. Well known as an Australian equity manager for wholesale clients, Clime’s investment solutions are now available to financial advisers. These include the Clime Smaller Companies Fund, Clime CBG Australian Equities Fund, Clime International Fund and Clime Australian Income Fund. Clime also acts as the Investment Manager for a prominent Queensland-based dealer group, managing a series of IMAs and SMAs on behalf of advisers within the Group.

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Stephen Karrasch rejoins OneVue as Head of Sales and Relationship Management, Investments, working with the Select Investment Partners and Platform Services teams.

He returns to OneVue after recent consulting roles in strategy and distribution at Aurora Funds Management and Philo Capital Advisers. He previously served as Head of Group Sales for OneVue from 2008 until 2014, where he established and managed the group sales strategy from start-up and was a founding member of the company’s management team.

“We are delighted to have Stephen return to OneVue. His passion for independent advice, expertise in managed accounts and his deep knowledge of OneVue and our clients will be vital in expanding our product, sales and service delivery this year,” said OneVue Managing Director Connie Mckeage.
Stephen, who started work at OneVue on May 2, has 25 years of financial services experience in equity trading, funds management, consumer finance and managed account sales and strategy.

Before joining OneVue for the first time, Stephen served as Director and Head of Sales and Marketing for Consumer Finance at Macquarie Bank. Prior to joining Macquarie Bank in 2006, Stephen worked for 12 years at Rothschild Australia Asset Management as Head of Retail Distribution. He has also held senior positions in stockbroking with Eric J Morgan & Co and AC Goode & Co.

“I am delighted to be back at OneVue to help leverage the success of our LUMINOUS platform, enhanced model portfolio capability and FUND.eXchange initiatives across our growing client base,” said Stephen.

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Storm will work with existing sales executive Stephen Karrasch to broaden the OneVue distribution footprint in the intermediary market, with the adviser services and self managed super fund (SMSF) solutions teams now reporting to Storm.

The appointment comes on the back of OneVue merging its strategy, sales and service teams that oversee OneVue’s direct to consumer and adviser platform offerings which increasingly correlate and provide greater avenues to deliver more robust scaled advice options to the end investor.

“A key consideration in merging the teams was the increasing synergies between the two channels and that many of our clients are starting to recognise the potential of leveraging these different offerings to optimise their own suite of services,” OneVue chief executive Connie Mckeage said.

“David has a strong track record of delivering and exceeding targets, and tailoring propositions to suit the SMSF and self-directed markets, which OneVue is heavily concentrated on.”

Prior to OneVue, Storm held roles at organisations including Ord Minnett Asset Management where he was key account manager and Advance Asset Management where he was state manager for New South Wales and the Australian Capital Territory.

He also worked at Citibank Wealth Management where he was head of financial planning and Citicorp Investment Limited where he was regional business manager.

“David has an intimate knowledge of the SMSF industry which is particularly important for OneVue and he has a strong understanding of the adviser market at individual and dealer group level,” Mckeage said.

“In order to prepare for OneVue’s upcoming IPO, I’d also like to announce that former head of strategic partnerships Brett Marsh has accepted the role of chief financial officer.”

Mckeage added that as the landscape of the financial services industry continues to change, it is vital that OneVue transforms and evolves with it.

“As we enter a new stage of our business lifecycle I am looking forward to what lies ahead and to continuing to work with existing and potential clients and partners to create real value in a new world.”

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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.

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