The Global Market Access service provides financial advisers with the ability to trade international securities on behalf of Investment and Super clients on the netwealth platform, offering an efficient and cost effective way to access international markets.
"While the Australian equities market continues to provide attractive investment opportunities, it is only approximately two percent of global equity markets." said netwealth Joint Managing Director, Matt Heine.
"By having access to larger global exchanges such as the New York Stock Exchange (NYSE) or London Stock Exchange (LSE), advisers can now provide their clients with a more diverse range of stocks, ETFs or sectors."
The service allows advisers to place trades directly with netwealth who then arrange execution on multiple exchanges from around the world via Citi's global network. International holdings can be viewed, tracked and reported all online alongside other assets to provide a complete view of a client's investment position.
Citi's Head of Equity Trading Daniel Young said, "We are pleased to work with netwealth in this innovative way. They are leveraging Citi's global network to offer their clients an efficient way of accessing a broad range of overseas markets that are not generally available on traditional platforms."
The Global Market Access service will provide the ability for netwealth's Australian clients to invest in stocks on the following exchanges and markets: NYSE (USA), NASDAQ (USA), LSE (United Kingdom), TSX (Canada), Euronext Paris (France), Deutsche Boerse (Germany), Euronext Amsterdam (Netherlands), TSE (Japan), KLCI (Malaysia), HKE (Hong Kong).
The netwealth platform, which is ranked number one for overall adviser satisfaction and number two for functionality by Investment Trends*, is growing rapidly and is expected to launch an integrated managed account service and recently exceeded $7.1b Funds Under Management.
For more information about Global Market Access via netwealth click here.
* Source: Investment Trends May 2014 Planner Technology Report.