Macquarie moves to speed up advice

Macquarie has launched a new planner-oriented product — an online application process with electronic verification to help advisers open cash accounts for their clients more quickly.

The new service, launched this week, is intended to allows advisers to work faster and more efficiently by enabling them to submit applications for Macquarie Cash Management Accounts and Macquarie Bank Term Deposits through Macquarie Access.

According to the group, by allowing clients to authorise applications online and using electronic verification to identify clients, the process helps advisers to streamline administration.

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Commenting on the new offering, Macquarie Adviser Services head of product - Cash and SMSF Solutions, Peter Forrest, said the new application process could be used to open individual, joint, company, SMSF and trustee accounts.

"Advisers are increasingly looking for solutions which allow them to work more efficiently, and technology plays an important role in streamlining the processes which can help them to do this," he said.

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