Arch Capital is an privately-owned wealth management firm, supporting clients to achieve their financial goals through financial planning, self-managed superannuation and tax management. Director Nigel Baker describes the firm as the ‘gatekeeper’ for clients. “We look for the best solutions for our clients, and because we’re privately owned and don’t take commissions, we are really free to do what works best for each individual or family.”
Keeping administration costs down is an important part of getting the best returns for client portfolios, and when a fund management partner referred WealthO2 as a more efficient and cheaper option for managing SMSFs and trading managed funds, Nigel was interested.
“The bigger players in this space are expensive, and don’t offer the same level of automation,” he said. “We looked at uXchange and Super Simplifier over a few months and decided they were a good fit for our business.”
Arch Capital has been using WealthO2 for a year now and Nigel says the journey has been smooth and delivered the benefits he hoped for. “The efficiency in the automation is fantastic, and the model portfolios and auto compliance documents are really good,” he said. “The clients haven’t noticed any change in our service to them – which is a good thing! – but they’re being charged less overall which obviously everybody likes.”
Nigel also said the service had been very good from sales through to implementation and support. “The service is fantastic, and the WealthO2 team are really good at taking our feedback and making adjustments to the services they deliver to us as we require. It’s a great product.”
About the technology:
uXchange provides advisers with simple, low-cost access to managed funds for their clients, and provides an alternative to traditional wrap platforms. uXchange offers the benefits of a platform with the reduced effort and paperwork in buying managed funds, beneficial ownership, distribution, holding and transaction data reporting, without the ongoing % administration fee usually associated.
uXchange offers access to a range of Australian registered domestic and global funds, which are selected based upon adviser and client demand. The platform is unconflicted as it is not aligned with any bank, product issuer or other financial institution.
Super Simplifier is a sub plan of an APRA regulated fund. We set out to offer a different option to advisers and their clients for superannuation – something new, that sits between a super fund and an SMSF, and at a fee comparable to an Industry Super fund.
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 Simpler Super. The benefits of efficiency and scale this model offers means clients enjoy a customised, flexible investment experience but without the SMSF price tag.