Started in 2015, with WealthO2 MDA and WealthO2 Managed Accounts launching in 2016.
WealthO2 uXchange. An alternative to both platforms and mFunds, it slots into existing workflows and offers low cost and transparency.
WealthO2 Super Simplifier gives members the personalisation, transparency and flexibility of an SMSF, but for a fraction of the cost.
Under this approach, advisers and clients work together to choose a mix of assets that will best meet the goals of each investor. Like an SMSF, client assets are held in individual accounts, but unlike an SMSF, the trustee is APRA-regulated. The benefits of efficiency and scale this model offers means clients enjoy a customised, flexible investment experience but without the SMSF price tag.
|Advice Process Steps||Scope
Cost to serve reductions
|Cost per user per annum||Not based on a user fee rather a costed per account solution|
|Time saving per client||Saving $2000 per $250K under management|
|Cost saving per client||Saving $2000 per $250K under management|
|Integration||Xplan and Class|
|Single sign on||Yes|
|Data storage||Cloud on AWS in Australia|
|Privacy standards||Privacy Act 1988 (Cth) and the National Privacy Principles|
|Limits on use||No|
|Disaster recovery and business continuity plans||Yes|
|AFSL approval||Not disclosed|