Asgard keeps it in the family
Platform providerAsgardhas announced it will give fee discounts of up to 32 per cent for linked family accounts.
Up to four Asgard accounts in the Asgard investment fund, superannuation and allocated pension accounts may be linked together, provided accounts are owned by the same investor or an investor’s family member.
Advisers will now be able to calculate the fees and discounts on the combined balance, which are scaled to the size of the accounts, and complete applications through Asgard’s online facility — adviserNET.
Discounts begin at 6 per cent for two accounts with balances of $50,000 each, and increase to 32 per cent for four accounts each with a balance of at least $200,000.
The discounts, which are designed to reward investors for consolidating their investments with Asgard, will reduce administration fees for investors, and enable advisers to promote consolidation and employ cross marketing.
Sealcorp product manager Gary Burford estimates between 10 and 20 per cent of Asgard investors will be able to take advantage of these discounts, but adds that it also provides an incentive for investors with other family members not with Asgard to bring money to the fund, as well as family groups looking for a platform.
Burford also says advisers will benefit from the discounts, particularly when employing planning strategies which require the operation of multiple accounts.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
