SelfWealth has signed a wholesale distribution agreement with software supplier BGL Corporate Solutions.
The SelfWealth solution will be integrated into BGL's Simple Fund 360, which will be released later this year.
BGL and SelfWealth will integrate and upload all the BGL self-managed super funds (SMSF) portfolios that migrate to Simple Fund 360 onto the SelfWealth Solution on an opt-in basis.
The deal will result in up to 40,000 additional portfolios within SelfWealth by June 30, 2014 and as many as 250,000 within the next four years.
Selfwealth expects the growth to strengthen the value of the SW200, SelfWealth's own benchmarking index that allows individuals and SMSF investors to compare their performance between themselves and to the companies in the ASX200.
"SelfWealth will be in a position to provide demographic performance data such as, accumulation phase versus pension phase, Gen Y versus baby boomers and provide an insight into how and why they invest," SelfWealth managing director Andrew Ward said.
SelfWealth is currently in discussions with prospective traditional and online brokers to select an executing broker of choice and will be looking to have a partnership established in the next few months.
SelfWealth is an online investment tool established in 2012 which allows an investor to compare their portfolio's performance against their peers, professionals and the market for a monthly subscription.
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