FIIG and IRESS launch new service

Financial planners will have access to instant information about their clients’ bond portfolios following an integration initiative between specialist fixed income broker FIIG Securities and technology provider IRESS.

FIIG Securities chief executive Mark Paton said the new service was another step in making fixed-income securities such as corporate bonds more accessible to ordinary investors.

“With this technology, professional advisers and their clients will gain access to a range of information on bonds and term deposits which they have long taken for granted with equities,” Paton said.

“It is widely accepted that Australian investors are excessively overweight equities and need more exposure to fixed income investments such as corporate bonds.”

Advisers will be able to view information on client portfolios with bond investments separated from cash investments, ensuring a more accurate representation of risk and asset allocation in the portfolio.

Principal and accrued interest is also reported separately which improves the ease and accuracy of reports for tax and performance purposes.

IRESS chief executive Andrew Walsh said the addition of rich fixed-income data to XPLAN was another example of IRESS leading innovation in the industry.

“We recognise the growing importance of fixed-income investments to professional advisers and have taken the appropriate steps to ensure that IRESS offers the most comprehensive service in this area,” Walsh said.

FIIG fixed income feeds will provide client transactional data and also access to historical prices and coupons paid on each bond back to July 2012 which ensures accurate reporting for the last financial year and beyond.