2020 Innovation Name: The FinClear Platform
Awards: 9th Most Innovative Banking, Superannuation and Financial Services Company
The FinClear Platform does everything an adviser, stockbroker or fintech would typically outsource to multiple vendors and service providers. It makes the investment and management process significantly more efficient and reduces cost and risk for any investment that is listed on a stock exchange, such as cash equities, listed investment companies and Exchange Traded Funds.
The platform solution can provide a saving of 1-1.5% per annum, equating to thousands of dollars per year per investor. It’s especially efficient for clients with low account balances. In addition, it drives significant savings at the planner level as the administration costs are far lower. Combined, the platform services over 500,000 clients.