Bendigo Wealth targets further expansion
Bendigo Wealth is looking to add superannuation to its low-cost Trinity3 platform as well as launching an income fund and an index fund.
The superannuation product would be in line with new MySuper requirements, and the group was aiming to be able to distribute it directly to independent financial adviser market in the first quarter of the next financial year, according to Bendigo Wealth executive John Billington (pictured).
Billington said he would be looking to sign off on a new income fund to build the group’s funds capability that would be launched in the next month or two, and an index fund that would be available in the first quarter of the next calendar year.
Billington said he had been surprised by the level of interest shown in the unified Bendigo Wealth brand, which brought together the bank’s formerly disparate wealth management services including Adelaide Bank, Leveraged Equities, Sandhurst Trustees and its low-cost investment platform Trinity3, with the site recording more than three times the average number of click throughs since it was launched early last month.
“We’ve had a great mix of existing Bendigo retail customers and new customers and also financial advisers wanting to know about the products and services we’re offering,” he said.
Explaining the decision to add superannuation to the Trinity3 platform, Billington said: “We have our own [separately managed account] with the Trinity3 product that is getting good traction with our own retail customers, it’s a great self-managed fund offering and [independent financial advisers] want to know if they can provide the same sort of product to their own clients.”
AUTHOR
Chris Kennedy
Recommended for you
With Fortnum Private Wealth and Professional Financial Services now unified under the Entireti umbrella company, CEO Neil Younger has detailed to Money Management the firm’s new direction and future expansion.
The FAAA has suggested looking offshore for overseas financial advisers to ease the adviser shortage, but are employers willing to take on the burden of workplace visas?
There may be a huge influx of alternatives coming to the market, but timing and access difficulties mean advisers can easily end up disappointed with their selection, according to Morningstar global CIO Dan Kemp.
An NSW individual has pleaded guilty to one criminal charge of providing unlicensed financial services after promoting crypto investments at national seminars.
