Platform-traded funds have lower management fees than traditional mutual funds because PTFs transact and settle similar to ETFs. But unlike ETFs, PTFs have no minimum investment requirements and orders are filled at end-of-day net asset value.Montreal-based Peak Investment Services Inc. will be the first mutual fund dealer to offer financial advisors direct access to platform-traded funds on Toronto-based Aequitas Innovations Inc.’s NEO Connect investment fund distribution platform.
“We want to make sure we have the biggest basket [of products] possible for advisors,” says Robert Frances, chairman and chief executive officer at Montreal-based Peak Financial Group Inc., Peak Investment Services’s parent firm. Peak Financial Group has a network of 1,500 independent MFDA- and IIROC-licensed advisors, professionals and employees who serve more than 150,000 clients and have more than $10-billion in assets under administration.
Other investments products are expected to be added to the NEO Connect platform down the road. Although Mr. Schmitt wouldn’t elaborate in an interview on what might be next, he says that “there are many other [assets] I think can be supported and we can distribute with the platform. … This is the beginning of much more.”
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