Insignia Financial has successfully migrated over 94,000 client accounts holding $38.6 billion funds under administration (FUA) from MLC Wrap, MLC Navigator, and associated offers to its Expand platform.

The firm announced the competition along with its 3Q24 results on Thursday morning, stating that Expand now had over 210,000 client accounts and $75 billion in FUA.

For migrating clients, Insignia said Expand provides an improved user experience on a contemporary platform and over 98 per cent of migrated clients will benefit from fee reductions.

Completed at the end of March, Insignia claims this is the largest single wrap platform migration undertaken in the Australian financial services industry, which is meant to simplify the overall business.

Launched in 2019 Expand has been developed over time in consultation with advisers to support their business efficiency and improve outcomes for clients.