INTL FCStone Inc. (NASDAQ: INTL) today announced that its wholly owned subsidiary, INTL FCStone Financial Inc. (“the Company”), has entered into an agreement with offshore mutual fund distribution platform Allfunds Bank. The relationship further enhances the offerings of the Company’s Correspondent Clearing Division, which is now the only U.S.-based clearing firm with access to the Allfunds fund distribution platform.
Allfunds Bank, the largest Fund Distribution Platform in Europe, offers 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 Inc., commented on today’s news:
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. 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.
The Correspondent Clearing Division of INTL FCStone Financial empowers introducing broker-dealers, RIAs, and foreign financial institutions to more effectively serve the trading and investment needs of their customers by utilizing next generation technology, a personal approach to operational support, and a strong infrastructure. The Correspondent Clearing Division uniquely serves the middle-market by providing institutional and retail capabilities through a single, proprietary platform.
We are very excited about our relationship with INTL FC Stone,” said Laura Gonzalez, Allfunds Regional Manager Iberia & 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.