Investment administration provider Powerwrap has launched a new direct equities administration service to meet the evolved needs of advisers and their clients.
The service delivers advanced administration support that helps advisers to seamlessly manage direct equity portfolios for their clients, particularly those who have a self-managed superannuation fund (SMSF).
"We have received consistent feedback from advisers that they want more control and flexibility over the management of client equity portfolios," Powerwrap chief executive Andrew Varlamos said.
"Whilst wraps are logical structures for managed funds administration, they are less satisfactory for equities on a number of levels. Our approach plays to the strengths of both structures, providing advisers with a more efficient, integrated solution."
Varlamos said advisers are increasingly offering clients direct equities as part of a comprehensive portfolio, particularly SMSF clients.
"These clients want independent advice with accountant-grade tax management and reporting that is also time and cost efficient," he said.
Based on advanced technology developed by Praemium, Varlamos said Powerwrap offers advisers advanced and accurate corporate actions processing and accountant-grade tax reporting.
