Fund distribution platform Allfunds has strengthened its reach within the US market by entering into an agreement with Interactive Broker, a global securities broker and custodian with over USD 348 billion in clients assets.

The agreement with Allfunds helps Interactive Brokers offer mutual funds to RIAs, broker-dealers and self-directed investors. This is facilitated through Interactive Brokers’ Mutual Fund Marketplace which gives clients access to over 40,000 funds worldwide, including more than 37,000 no-load funds from over 400 fund families.

The Mutual Fund Search Tool can be used to search for funds by country of residence, commission charged, fund type or fund family. It can be accessed by clients from over 200 countries and territories and includes many prominent asset managers, including funds from Amundi, BlackRock, Franklin Templeton, Invesco, Lombard Odier, MFS Meridian, PIMCO and Schroder. In addition, over 7,700 funds are available with no transaction fees.

Included within the platform is the ability to view suitable share-classes for RIAs and institutional investors. Allfunds is in the process of building a pool of eligible funds to facilitate access of Offshore UCITS funds in Canada under the relevant local exemptions regime. This will open the opportunity to fund managers to sell their products in an efficient and cost-effective manner to certain client types.

Laura Gonzalez, global head of wealth management at Allfunds, said in a statement:: “We are thrilled to continue to work with Interactive Brokers, a true leader in the electronic broker space. We have seen great success over the last several months working together and we look forward to seeing additional flows from Canadian and US investors into the platform.”