Allfunds strengthens US offshore commitment with INTL FCStone partnership
INTL FCStone Financial has entered into an agreement with offshore mutual fund distribution platform Allfunds Bank.
The partnership is seen as strengthening the company’s Correspondent Clearing Division, which is now the only US-based clearing firm with access to the Allfunds fund distribution platform.
Allfunds Bank, the largest fund distribution platform in Europe, provides access to more than 57,000 funds from over 1,200 fund managers. INTL FCStone Financial will now have direct access to the Allfunds fund distribution platform. The Company finalized its agreement with Allfunds in December 2017 and completed the successful implementation of the Allfunds platform in late January. Through this agreement, the company further solidifies its commitment to the offshore wealth management market.
Roger Shaffer, managing director, Correspondent Clearing at INTL FCStone Financial, commented on the news, saying: “We are excited about our relationship with Allfunds and are proud to be the only US-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. 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.”
“We are very excited about our relationship with INTL FCStone,” said Laura Gonzalez, Allfunds regional manager for Iberia and the Americas. “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.”