Instant access for financial planners

by |
Financial planners can now have access to instant information about their clients' bond portfolios due to an agreement between Australia’s largest specialist fixed income broker FIIG Securities and wealth technology provider IRESS.
The new service was a step towards making fixed-income securities, such as corporate bonds, more accessible to ordinary investors, FIIG chief executive Mark Paton said.
“With this technology, professional advisers and their clients will gain access to a range of information on bonds and term deposits which they have long taken for granted with equities.
“It is widely accepted that Australian investors are excessively overweight equities and need more exposure to fixed income investments such as corporate bonds, so it is very positive that Australia’s largest fixed income platform has removed another obstacle to fixed income investing.”
Advisers will be able to view information on client portfolios with bond investments separated from cash investments, giving a more accurate representation of risk and asset allocation in the portfolio.
Principal and accrued interest is also reported separately which improves accuracy of reports for tax and performance purposes.
“We recognise the growing importance of fixed-income investments to professional advisers and have taken the appropriate steps to ensure that IRESS offers the most comprehensive service in this area,” IRESS chief executive Andrew Walsh said.
FIIG fixed income feeds will provide client transactional data and also access to historical prices and coupons paid on each bond back to July 2012, which ensures accurate reporting for the last financial year and beyond.
FIIG helped open up the Australian corporate bond market to financial planners, SMSFs and private investors by cutting minimum parcel sizes from $500,000 to $50,000 in 2010 and then to just $10,000 last year.