Lonsdale Hits $1 Billion in WRAP

18 July 2005

Lonsdale Financial Group (Lonsdale) is celebrating its achievement of $1 billion dollars in Funds Under Advice (FUA) in Zurich owned, BT badged administration platform, Wrap Account Limited (Wrap Account).

The milestone comes as a welcomed surprise with the target initially budgeted to be reached towards the end of October this year, highlighting the exceptionally strong performance of the dealer group's Associate firms.

Lonsdale has experienced a growth of around 40% of funds held within Wrap Account in the past 12 months.

With Lonsdale Associate firms free to choose their own platforms, Lonsdale Senior Business Manager Phil Brooker said he was delighted with the news and attributed the achievement to Lonsdale's in-house practice management programme, Blueprint, which has demonstrated the efficiencies a business can enjoy by using such a high quality administration platform.

"This is a sensational achievement," Brooker said today.

"The total monies held within Wrap Account now account for approximately 20% of the group's total Funds Under Advice", he said.

"Lonsdale does not mandate which administration platforms our Associate firms can or can't use, rather we leave that decision for them to make on the basis of what works best for their business".

"We are really pleased that our close relationship with Wrap Account has produced a superior service offering for our Associates that has been so well received and supported," Brooker said.

About Wrap Account Limited

Wrap Account has three wraps on one platform, including AssetChoice, AssetLink and AssetChoice Essentials. Wrap Account is a badge of BT Portfolio Services and the two joined forces in 1997 to launch Australia's first wrap account. Lonsdale was involved in this frontier experience since its inception. Wrap Account Limited is a wholly owned member of the Zurich Financial Services Australia Group.

About 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 more than 20 years ago.