Austock launches new bond product
Austock has come to market with a new product it says will assist advisers with clients dealing with the Centrelink income test.
The product, announced by Austock this week, is the Bonds Custodian Trust (BCT) which the company claims is a streamlined mechanism for creating a bare holding trust at the same time a bond is being issued.
Austock claims this can be achieved for a flat $100 fee with no stamp duty or ongoing costs.
Commenting on the product Austock’s Richard Atkinson said he could see great potential for the product such as current Aged Care Income Tested Fees and the future deeming of account-based pensions.
AUTHOR
Mike Taylor
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
