INTL FCStone Financial has announced a newly reached agreement with Allfunds Bank, which has bodes the largest Fund Distribution Platform in Europe, provides access to a network of more than 1,200 fund managers, who collectively offer a total of over 57,000 funds.
The official commencement of both sides into the agreement illustrates INTL FCStone’s commitment to the offshore wealth management market.
The company’s Correspondent Clearing Division will act as the only US clearing firm to gain access to the Allfunds fund distribution platform, giving he company an edge over its competition.
The division enables financial institutions to meet the needs of their institutional and retail clients, through technological advances on a proprietary platform.
Roger Shaffer, Managing Director of the aforementioned Correspondent Clearing unit, summarized INTL FCStone’s outlook following the agreement. “We are excited about our relationship with Allfunds and are proud to be the only U.S.-based clearing firm with access to their platform. We continue to add products, services, and capabilities to our offering in an effort to provide our correspondents with the best available brokerage and wealth management tools.”
Mr. Shaffer added: “The relationship with Allfunds allows our correspondents to provide their end-customers with access to over 57,000 offshore funds from a single platform. Our relationship with Allfunds underscores our commitment to servicing the offshore wealth management market.”
Adding to the festive attitude of Mr. Shaffer was Allfunds Regional Manager Iberia & Americas, Laura Gonzalez, who said: “We believe financial distributors will benefit from a streamlined access to international investment products, thanks to this unique joint-offering from Allfunds and INTL FCStone Financial.”
INTL FCStone recently released its Q1 financial report, reaching record quarterly revenues, and illustrating the company’s current pattern of growth. Moreover, according to data from FINRA’s Over-the-Counter Reporting Facility (ORF) and Bloomberg RANK, INTL FCStone Financial ranked as the top OTC Market Maker for the third consecutive year.