Under the new facility, Asgard will become the custodian of any shares held by customers via the eWrap investment account, with the investor retaining the beneficial ownership of the equities.
It means Asgard will then provide advisers, and in turn investors, with all of the corporate action notifications and share registry correspondence online.
The firm will also process all of the transaction and tax reporting associated with these share holdings.
The new arrangement will mean individual clients will no longer have to fill in any paperwork for dividend elections and will receive all dividend notices as part of an annual tax statement prepared by Asgard.
The popularity of ETFs and direct equities among high net worth clients were grounds for the justification of having shares on a platform, Asgard national product manager Kelly Power said.
