InvestNow opens platform to advisers
InvestNow offers 111 managed funds and term deposits from four banks and currently has around $330 million in funds under management.
While the platform was set up for retail investors it is about to start offering its services to advisers. This change comes at at time when there is significant change in the platform market.
The ASB-owned Aegis, which arguably dominates the adviser market, is up for sale; NZX starts to ramp up its Wealth Technologies platform and Good Returns understand an Australian-based player is planning to enter the market next year.
Edmonds says InvestNow is not chasing or targeting advisers, rather its focus is on the end client. However it has made changes to the platform to allow advisers to charge fees through the service.
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