AMP-backed brokerage releases global platform

Macrovue chief executive Sid Sahgal said in a statement that the new platform features paperless client on-boarding, one integrated trading platform for global and domestic stocks, powerful performance tracking and sophisticated tax reporting.

Mr Sahgal said that it is not a wrap platform, doesn’t pool funds or combine trades, doesn’t charge funds under management fees, only charges a flat annual fixed fee per adviser client and low brokerage fees.

“Macrovue is finalising the platform to enable data sharing with existing financial planning software,” he said.

Mr Sahgal said a surprising number of advisers are still using manual trading systems to buy and sell global stocks.

“Instead of placing trades over the phone or via email for clients, advisers now have an off-wrap platform solution that offers a hassle-free experience to trade international shares,” he said.