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Bell Financial Group launches Tandem Securities

Bell Financial Group has today launched Tandem Securities, an end-to-end platform that provides wholesale and institutional clients with trading, clearing, and investment services.

Bell Direct chief executive Lee Muco told Financial Standard at the Stockbrokers and Investment Advisers Association (SIAA) Conference that for the past 15 years the company has provided technology and wholesale solutions to B2B customers in the Australian market, focusing on listed investment and trading solutions.

A key milestone was the launch of Desktop Broker, which caters to wealth advisory firms, enabling them to offer trading and investment solutions to their clients. Concurrently, Bell Potter Capital, a sister company, was offering lending solutions internally and planning for external offerings.

More recently, a third-party clearing capability was introduced, becoming fully operational in 2021.

"We realised there's a need to have an offering with a foot in each of those existing brands. Increasingly, we were being approached by businesses wanting solutions are within each of those. It didn't really make sense to have those disparate brands," he said.

"Tandem as a brand is recognition that we need to have a more unified offering to present to the market, especially given the current consolidation in the B2B market. There are only a few providers of third-party clearing, for instance, and we're seeing increasing demand for that type of business."

Muco noted a significant increase in retail entrants for self-directed broking, contrasted with considerable consolidation in the B2B sector, particularly in third-party clearing. Currently, only two to three key players dominate the market, he said, with many other participants lacking the necessary scale to adequately support the industry.

"From a strategic point of view, we have the scale of our internal brands being Bell Direct, Desktop Broker, Bell Potter Securities. Having a B2B offering alongside these allows us to leverage the scale we've built ourselves, plus the balance sheet of Bell Financial Group. It's a compelling offering for people looking for solutions in this space," he said.

The group is also looking to partner with other businesses in the space.

"Whether it's broking firms looking for third-party clearing or institutional sales desks seeking execution and clearing capabilities from trusted, stable, and secure partners, we aim to build a stable of high-quality partnerships," he said.

"We're not interested in chasing low-hanging fruit."

Read more: Bell Financial GroupTandem SecuritiesBell DirectDesktop BrokerBell Potter CapitalBell Potter SecuritiesFinancial StandardLee Muco