FinClear is a privately owned Australian company. It holds an Australian Financial Services Licence (AFSL No 481017) and is an ASX General Clearing and Settlement Participant. It is the parent company for FinClear Execution Ltd (FinEx). FinEx holds its own AFSL (AFSL 246842) and is an ASX Trading Participant and an ASX Settlement Account Participant.
FinClear offers third party clearing and settlement services and execution through its wholly owned subsidiary, FinEx. In addition to third party execution, clearing and settlement services, it also offers a range of other outsourcing products for financial intermediaries to service their end clients.
FinClear sees a growing need for additional competition in the execution and clearing space for financial services businesses to service their clients through an Australian owned and locally focused provider.
It has been over two months now since FinClear Pty Ltd (FinClear Group) announced its acquisition of Lonsec Limited, otherwise known as Lonsec Stockbroking.
At the time, we were keen to point out that there would be little change to Lonsec Stockbroking and its operations due to this change in ownership.
Both services and staff at Lonsec Stockbroking have remained unchanged, and the experienced team of advisers in Melbourne and Sydney continue to deliver the quality investment advice, portfolio review and execution services that they are known for.
Most importantly however, there was no need for Lonsec Stockbroking to enter any new arrangements with yourself nor any need to re-paper your clients.
As part of our sale agreement with Lonsec Fiscal, Lonsec Stockbroking is now required to undergo both a change of business name as well as relocation to new offices.
The stockbroking management team felt it was important to operate under a name that explains what we do, but at the same time does not detract from your brand, as we very much understand that it’s your business that the end investor deals with.
With this in mind, we will be changing the business name of Lonsec Ltd to FinClear Execution Ltd.
October 10, 2016
Lonsec Fiscal Holdings Pty Ltd (Lonsec) today announced that it has sold its stockbroking business to FinClear Pty Ltd (FinClear).
FinClear is a locally owned financial services business providing wholesale market access and outsourcing solutions. This acquisition positions FinClear with a unique value proposition to deliver independent and quality execution and outsourcing services to wholesale advisory clients.
Meanwhile Lonsec has intensified its commitment to innovate and expand its investment and superannuation research services, with a core focus of enabling better investment outcomes for its intermediary clients – financial advisers, superannuation funds and fund managers.