HSBC opens trail to advisers
HSBChas enhanced its SuperOptions superannuation and allocated pension product range by introducing new trail commissions in what it says is a drive “to attract and retain financial adviser loyalty”.
HSBC has reduced the capped management expense ratio levels to 1.99 per cent on most of the personal super and allocated pension funds as well as including a 1 per cent per annum trail commission alternative on the nil entry fee option for both its personal super and allocated pension funds.
Of the nil entry options, the first has an upfront commission of 3.3 per cent and a trail of 0.33 per cent per annum, while the second option dispenses with any upfront commission, but has a 1 per cent per annum trail commission.
HSBC chief executive Barry Sheehan says the move demonstrates HSBC’s commitment to delivering comprehensive funds management services to financial advisers.
“To attract and retain financial adviser loyalty we believe it is important to offer them flexibility and choice,” he says.
Investors with a minimum of $2000 can access HSBC’s personal superannuation product range, while those with a minimum of $25,000 can access the allocated pension category.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
