Londsale aligns with Shareinvest
2 June 2006
Lonsdale Financial Group Limited (Lonsdale) today announced Direct Portfolio Services Limited (DP) and its ShareInvest Separately Managed Accounts (SMA) financial product as its preferred supplier.
Lonsdale Chief Executive Officer, Mario Modica said it is now time for SMAs to be accepted by financial planners and accountants.
“We recognise the importance of our advisers offering discretionary direct equity model portfolio solutions to their clients. It also allows the adviser to offer a broader range of services to clients in a compliant and professional manner.
“Lonsdale has spent some months reviewing the industry participants. DP’s extensive experience in providing SMA’s and the quality of their software system (OzPort), web reporting and product features were key factors that influenced our choice.
”We are confident that ShareInvest, which is structured as a financial product, is the ideal fit for our network. It is built on a special purpose CGT and a corporate action processing engine which provides tax optimisation and secure web-based reporting and investors retain ownership of the securities,” he said.
Mr Modica added that Lonsdale are also in the process of adding ‘managed fund’ models to ShareInvest to create a new generation ‘SMA style wrap’, which will broaden the appeal to their advisers.
Regarding adviser feedback, Mr Modica said Lonsdale tested the products with focus groups and feedback was very positive, especially regarding the compliance aspects.
“Operating professionally, without the need to produce ongoing Statements of Advice (SoA) was a huge plus. Inbuilt administration support dealing with portfolio changes is another great feature allowing advisers to spend more time on client strategy.
“We’ve also received much interest from our accounting based advisers who favour SMA’s because they also suit SMSFs and where listed securities are a significant part of the investment mix,” said Mr Modica.
ENDS
For more information:
Mario Modica | Chief Executive Officer | Lonsdale Financial Group Limited
T: 03 9916 6368 | E: mmodica@lonsdale.com.au
John Aldersley | Executive Chairman | Direct Portfolio Services Limited
T: 02 9375 0418 | E: john.aldersley@directportfolio.com.au
Paul Bray | Executive Director | Explorer Group Limited
T: 02 9247 6500 | E: paul.bray@explorergroup.com.au
Lonsdale financial group limited
Lonsdale Financial Group is small enough to get to know people in the network, and big enough to feel a part of an established and secure group. Lonsdale has offices Australia-wide, a dedicated team of Business Managers and was established over 20 years ago.
ShareInvest Separately Managed Accounts
ShareInvest is a registered managed investment scheme (ARSN 112 517 656). Most managed investment schemes operate as a unit trust. ShareInvest does not. ShareInvest is structured as a Separately Managed Account (SMA) form of managed fund. ShareInvest separately and beneficially (for tax purposes) maintains the portfolio records of each individual investor. Direct Portfolio Services Limited as the responsible entity manages share portfolios on a discretionary basis, provides implementation on behalf of external investment managers or provides an administration service.
Direct Portfolio Services Limited (DP)
Since 1996, DP has grown to managing over $240 million in funds on behalf of over a thousand clients. DP launched DirectPortfolio in 1996 as Australia’s first true SMA which is offered directly to investors. In March 2005, DP launched its second SMA, ShareInvest, which is accessible only through financial advisers. DP is a member of the Explorer Group of Companies.
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