Legg Mason launches Significant Investment Visa initiative
Fund manager, Legg Mason has announced it will package its four Significant Investment Visa (SIV) complying fund to provide a solution for financial planners.
The company announced its intention today, saying it had four funds that comply with the SIV requirements - Australian cash, listed property, equity income and real income.
It said its package was already being used exclusively by a global advisory firm, with a second group in discussions.
The company said it had also completed a round of discussions with the Victorian Government to exchange insights on the latest policy developments, implementation and touring initiatives of countries most active in the SIV market.
Legg Mason's Australia head, Annalisa Clark said the company recognised the potential in SIV investors and the growth opportunity they represented for advice firms dealing with overseas clients.
"We aim to be a partner of choice with advisers in the SIV space, and that is evidenced by the traction we are getting with private wealth advice firms seeking solutions for their clients," she said.
The company said Legg Mason Australia was also in discussions with its Asian-based offices about distribution opportunities through their on-the-ground distributors.
Recommended for you
A quarter of advisers who commenced on the FAR within the last two years have already switched licensees or practices, adding validity to practice owners’ professional year (PY) concerns.
Integrated wealth and financial services group Rethink has launched a financial planning arm called Rethink Wealth to expand beyond property investing and into holistic wealth management.
While adviser numbers continue to slowly creep back up, the latest Wealth Data analysis reveals they would actually be in the green for the calendar year if it weren’t for so many losses in the limited advice space.
Iress has appointed a chief AI officer to spearhead the fintech’s strategic focus on AI, with chief executive Marcus Price describing how the technology opens the doors to a “new frontier for wealth advice”.
