Platform provider Oasis Asset Management expects to reach $10 billion in funds under administration (FUA) by 2012, two years later than it had previously anticipated.
The global financial crisis (GFC) has spoiled the provider's plans for rapid growth.
"I don't think anyone has not been affected by the GFC," Oasis managing director Wayne Lowe told InvestorDaily. "It was a pretty aggressive GFC that took a lot of investors' money."
Oasis currently has $5.6 billion in FUA and is used by about 1000 active financial advisers.
"[Our FUA target] is something that we've had to revise, as I expect everyone had to do," Lowe said.
But considering the circumstances the platform has held up well, Lowe said.
"We've got a good client base and we're enhancing the platform, and with a consumer confidence increase we certainly look forward to a good 2010."
Earlier this year, Oasis won a major contract from dealer group Financial Services Partners, where it replaced Colonial First State's Avanteos system.
Oasis invested heavily in its technology last year, improving its reporting and fee-paying facility. It also broadened its product range, adding exchange-traded funds and retail insurance products.
"We spent over $10 million last year and we would be looking to spend something similar over the next 12 months," Lowe said.
Oasis is looking to improve the functionality of its front-end software, MoneyOne, and also aims to increase its range of direct investment products.
"There is a lot of money going into more traditional investments," Lowe said. "People look for blue chips and safety."
