Aussie Wealth Manager Offers HNW Platform To All Levels

Vanessa Doctor

11 May 2010

Yellow Brick Road, the Australian wealth management firm, has partnered with technology provider OneVue to offer a new universal managed account to Australian retail clients.

The new product will allow investors to manage all their asset activities under just one account. Clients can then integrate their share portfolios, bonds, managed funds and non-investment products under a single platform.

"Historically, solutions like this have only really been available to high net worth investors," said Mark Bouris, the head of YBR, in a statement. "This will be the first time that this option is available to investors at all levels."

Australia has seen a surge in the number of new affluent individuals and families over the past year after the global financial crisis revealed the country's relative resilience to international market failures. Latest figures from the magazine Forbes show that the combined wealth of the country's 40 richest individuals has gone up 45 per cent, from $33.7 billion in 2009 to $48.8 billion in 2010.

YBR has 27 branches across the country and one in Singapore. The company says it hopes to increase this to 50 by year-end.