IOOF releases WealthBuilder
IOOF has released a new product which it says is aimed at financial advisers with clients who are looking for a wealth accumulation strategy outside of superannuation.
It is marketing the product, IOOF WealthBuilder, as a tax-effective long-term investment option.
It said that investment bonds such as the WealthBuilder product allowed clients to access their money at any time, with the incentive that the rules around investment bonds had not been subject to frequent change.
IOOF said WealthBuilder earnings were taxed in the hands of IOOF, rather than the investor, meaning the tax paid on the investment income was 30 per cent and not the client's marginal tax rate.
Recommended for you
More than 25 winners have been announced at the second annual Australian Wealth Management Awards.
As the deadline approaches for advisers to meet higher education requirements, the FAAA has shared an “obscure” loophole to help advisers avoid redoing a professional year.
A former financial adviser has been extradited from New Zealand after being alleged to have misappropriated $4.1 million from 13 clients.
Global wealth management platform FNZ has reached US$2 trillion in assets on its platform as it launches an Advisor AI solution to improve adviser productivity.
