A FAB development for Boxer

The Boxer master trust, run by Kevin Seque, has souped up and now offers financial advisers and their clients a wrap account service.

Thursday, July 22nd 1999, 12:00AM

The Boxer master trust, run by Kevin Seque, has souped up and now offers financial advisers and their clients a wrap account service.

Boxer Financial Services is working with fellow Christchurch-based firm Financial Application Builders (FAB) Software to provide reporting services for a wider range of investments.

Boxer currently has about $50 million in funds under management and provides advisers with 100 funds to choose from. Once FAB's Virgil software package is included it will be able to report on any other investment security in the market the adviser wishes to recommend.

This means advisers can consolidate and report on all their client’s investments, not only those on the Boxer menu of funds, but on any listed or unlisted security, as well as superannuation, back end fee products, property and fixed interest products that include fluctuating distributions.

"These companion products will accelerate the general move towards more sophisticated data management by financial advisers aiming both to simplify their back office management and provide a comprehensive, more cost-effective reporting service to their investor clients," Seque says.

"Unlike it’s competitors, neither Boxer nor FAB Software has any financial association with, or is in any way aligned to a life office or fund management house."

Boxer has contracted Tower Trust to electronically report to Boxer advisers and their clients. Tower Trust will provide an electronic link to FAB/Virgil.

Boxer is free to advisers and a single site licence for FAB Virgil costs $3,000 per annum. For advisors buying the combined Boxer/Virgil package there will be no up-front costs. Seque says the Boxer/FAB amalgamation offers "the first independent wrap account service, and should remove the only significant obstacle to the financial adviser industry’s take up of the Boxer back office technology solution."

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