TORONTO--(BUSINESS WIRE)--NEO Connect and Univeris are proud to announce a partnership that will give MFDA advisors access to funds distributed on NEO Connect, Canada’s newest fund distribution platform. Univeris will integrate NEO Connect into its wealth management software utilized by 15,800 MFDA advisors, whom collectively represent over $178BN in assets under administration.
NEO Connect is the most efficient and easy-to-use distribution platform in the mutual fund space, allowing fund manufacturers to offer and manage funds at a cost that is lower than for Series F funds, and allowing IIROC dealers and their advisors to access these funds without having to pay any access fees. Committed to levelling the playing field for all investors and their advisors, NEO Connect will now also be available to the MFDA / Chambre de la Securité Financière community and their clients.
“The partnership between NEO Connect and Univeris is a real game changer for the asset management industry in Canada,” stated Jos Schmitt, President & CEO, NEO. “The most efficient way to transact mutual funds at the lowest cost has been inaccessible to a large segment of the mutual fund industry. Until now. By integrating NEO Connect with the Univeris wealth management software, MFDA advisors will now also be able to benefit from all the advantages that come with prospectus mutual funds and private funds distributed on NEO Connect. This a win for the advisors, a win for their dealers and, ultimately, a win for their investing clients.”
Technology integration between NEO Connect and Univeris is in progress with a production roll-out to all Univeris clients during Q4 2018.
“Univeris is a world-class technology platform that boasts a number of firsts in Canadian mutual fund distribution. With NEO Connect we will continue to innovate – making funds distributed across NEO Connect available to the MFDA Member community,” said Carmine Tullio, President and CEO, Univeris. “We understand the top priorities of wealth management executives – enabling process efficiencies, improving customer retention and simplifying the investment process. We are confident that our partnership with NEO Connect will help us further deliver on these priorities by enabling access to efficient investment products that offer a simpler choice to the investor. We look forward to rolling out this new solution in the coming months.”
NEO Connect currently distributes Platform Traded Funds (PTFs), which include both traditional prospectus mutual funds and Offering Memorandum funds. NEO Connect has experienced rapid growth within the fee-based investment advisory community since its launch in 2016, recently eclipsing $500MM in assets serviced. This expansion to the MFDA member community opens up access to a significant amount of investible assets under administration to consider investment opportunities in NEO Connect distributed funds.
MFDA Dealers and their advisors outside of the Univeris client network interested in gaining access to NEO Connect are encouraged to contact Univeris to learn more. Investment dealers interested in arranging a test or learning more, are encouraged to visit the NEO Connect website or contact the NEO investor helpline toll-free at 1-844-567-6424.
About NEO Connect
NEO Connect is Canada’s new fund distribution platform launched in May 2016 and built by Aequitas Technology Services Inc., the innovation arm of Aequitas Innovations. Aequitas is also the parent company of the NEO Exchange, Canada’s next generation stock exchange, putting the needs of investors, businesses looking to raise capital and dealers first.
Access to NEO Connect is currently available at no cost for all investment dealers and an initial test trade can be organized and executed within 24 hours. The seamless onboarding process has fund manufacturers set up to handle purchases in no time. To arrange a test or learn more, contact the NEO investor helpline toll-free at 1-844-567-6424 or visit: https://www.aequitasneo.com/en/connect/neo-connect
Univeris is a leading provider of enterprise retail wealth management software. Univeris offers comprehensive solutions that automate processes, compliance, reporting and many other key aspects required for delivering superior investor services. The unified, digital platform enables investors to manage many types of investment products on one system. You can learn more about Univeris at www.univeris.com.
Univeris Enterprise Wealth Management software is utilized by some of the leading MFDA members, including Aviso, Credential, Qtrade, PEAK, Desjardins, Great-West Life, Quadrus, London Life, Hollis Wealth, IA Financial Group, FundEX, Investia, Investment Planning Counsel, Sun Life Financial and Tangerine. By onboarding these MFDA dealers through Univeris, the reach of products distributed on NEO Connect will grow exponentially. There are 91 MFDA Members in Canada that collectively sponsor almost 80,000 MFDA advisors with total mutual fund assets under administration of $547.978BN, as at January 2018.