Macquarie wraps up margin lending
Macquarie’s wrap service has signed up with Colonial to use the group’s Investment Accelerator margin lending service.
Macquarie’s wrap service has signed up with Colonial to use the group’s Investment Accelerator margin lending service.
Macquarie Portfolio Manager (MPM), plans to offer margin lending initially through a pilot project involving a number of dealer groups. In July, Macquarie expects to expand the geared loan feature to all MPM users.
Macquarie says that in future, MPM will include geared equity products from additional provid-ers.
Macquarie division director Neil Roderick says research into the priorities of Australian financial planners and their clients had revealed demand for a margin lending facility that could be ac-cessed and monitored by a wrap account.
"Geared investment is increasingly popular as a wealth creating strategy in today's financial services marketplace," Roderick says.
"A sophisticated wrap account like Macquarie Portfolio Manager is the best was to accurately monitor these investments.”
Recommended for you
The exit of as many as 1,600 advisers as a result of the education requirements will fundamentally redefine adviser capacity, Padua Wealth Data says, and leave clients facing longer turnaround times and reduced access to advice.
WT Financial managing director Keith Cullen has become the latest advice licensee to describe how artificial intelligence is transforming its business as well as plans for two further Hubcos.
ASIC has temporarily suspended the AFSL of a Newcastle-based advice firm after discovering it had unknowingly provided financial services for two years without a key person.
The Financial Advice Association Australia’s Advice Academy has formally launched, assisting Professional Year candidates and supervisors.
