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Yellow Brick Road Partners with OneVue to offer an affordable, accessible investment serviceSydney, 10 May 2010 - Wealth management firm Yellow Brick Road, headed by Mark Bouris, and technology and service provider OneVue have teamed up to offer Australian investors a one-stop, affordable and accessible investment solution. The announcement follows a competitive tender process announced by Yellow Brick Road in January.
Yellow Brick Road and OneVue will partner to offer a Universal Managed Account (UMA) which will allow investors to manage all their investments and asset classes, including stocks, bonds and managed funds, through one account. The service is one of the first of its kind in Australia, and is being offered direct to investors through Yellow Brick Road’s rapidly expanding branch network.
Mr Bouris said “UMAs are relatively new to Australia so we’re really pleased to be leading the way in offering consumers a more efficient and transparent approach to managing their investments. Historically, solutions like this have only really been available to high net worth investors – this will be the first time that this option is available to investors at all levels.”
UMAs offer a number of advantages for investors. A UMA allows for:
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The direct holding of assets by investors;
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The ability to use model portfolios available from various investment managers; and
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Compliance and tax reporting to support self managed super funds.
UMAs also offer complete transparency of both assets and fees. These benefits allow superior, lower cost investment solutions to be delivered to clients, and supports Yellow Brick Road’s Fee for Service approach.
Connie McKeage of OneVue said “We’re delighted to have been selected as Yellow Brick Road’s partner in delivering this investment solution. Our technology and experience and Yellow Brick Road’s expertise and branch network are a great combination. We think UMAs are the future of investment management – they’re transparent, relatively low cost and an extremely tax efficient way of managing investments.”
Mr Bouris said “I’m a big believer that all Australians should have access to quality, affordable financial advice and products, and that’s what Yellow Brick Road offers. Yellow Brick Road has extremely competitive home loans, and now we’re going to be able to provide a leading edge investment solution to Australian investors.”
Mr Bouris added “Yellow Brick Road is continuing to roll out its branch network – we’ve got new branches opening almost weekly. Becoming a partner of Yellow Brick Road provides a great opportunity for accountants and other financial professionals to expand on the core services they offer their clients. We can help with a wider range of investment advice and services, including the establishment and management of self managed super funds – so I’d encourage any accountants looking at broadening their practice to come and talk to us.”
Yellow Brick Road currently has 27 branches in Sydney, Melbourne, Brisbane, the Gold Coast and the Sunshine Coast, along with a branch in Singapore. Fifty branches are expected nationally by the end of 2010.
Yellow Brick Road
Yellow Brick Road is a financial services and advice company headed by Mark Bouris, one of Australia’s most successful businessmen and former Chairman of Wizard Home Loans. Yellow Brick Road offers tailored advice and services to investors of all ages wanting to build financial security for the future.
OneVue Limited
OneVue Limited is Australia’s first Unified Managed Account Provider. OneVue is an independent and non-institutionally aligned company offering advisers and accountants the ability to see their clients Separately Managed Account (SMA), assets and liabilities in a single client view across investments.
Why UMAs?
With a Universal Managed Account (UMA) the investment menu is controlled by the dealer or distributer and is limited to those managers and asset classes that the dealer or distributor selects for its model portfolios. This provides the benefits of scale not available on a wrap, because funds under management are directed specifically to a small set of investment managers, allowing direct mandates to be set up with those managers, usually at a lower cost. The limited number of mandates reduces the administration burden as the administration effort is highly focused, offering scale benefits not available on wraps.
UMAs also offer complete transparency of both assets and fees, something that is available only to a limited extent on wraps, and not available with master trusts or multi-manager offerings. These benefits allow superior and lower cost investment solutions to be delivered to clients.
The UMA is more than a MasterFund or wrap. Unlike other investment solutions the UMA offers portfolio administration and reporting for all assets and liabilities – and can also incorporate non administered assets in the consolidated portfolio valuation providing investors with the true one view of all their assets and liabilities.
For Further Information
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