Xplore Wealth launches new solution

In its first major move since rebranding, Xplore Wealth launched a new wrap platform.

The first major product initiative since shedding its managedaccounts.com.au branding earlier this year, Xplore Wrap is Xplore Wealth's new platform offering to advisers managing discretionary investments, super and pension money.

The firm said Xplore Wrap offers "a world of investments" with multi-currency and multi-market investment access and trading through a broker of the adviser's choice.

Xplore Wealth non-executive chair Peter Brook said the platform was developed in part to "help transform client and adviser relationships."

"It offers advisers a genuine range of investment solutions to meet a choice of client need.

"For example, advisers can provide clients with the advanced benefit of a consolidated view of investments, access to managed funds, international securities and portfolio rebalancing under a single instruction."

Brook added the wrap solution would complement the firm's existing managed discretionary account capabilities and also address an evolving market landscape. He also said the firm planned more new products in the same vein as Xplore Wrap.

"Increased transparency in the investment decision-making process, combined with Xplore's deep industry experience and administrative track record had enabled us to deliver the first of several planned new products offering a simplified and clear approach that efficiently supports our loyal advisers and their clients," he said.

Separately, non-executive director and AFCA ombudsman Pamela McAlister stepped down from her role on the firm's board due to the increased demands of her regulatory role.

EISS Super chief executive Alex Hutchison has taken McAlister's place, after originally stepping down in 2018 due to personal circumstances.

Read more: Xplore WealthXplore WrapPamela McAlisterPeter BrookAlex HutchisonEISS Super
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