Macquarie’s new channel
Macquarie Bank has restructured its distribution and set up a separate division — what it calls “the adviser channel” — to streamline its dealings with financial planning customers.
The move will see each client dealing with only one Macquarie representative - a relationship manager who better understands the adviser's business.
"Macquarie has produced some really good products and services - and a far broader range than anyone else," says Macquarie Bank executive director Tim Farrelly.
Its offering includes a cash management trust, superannuation trust, unit trusts, property syndication, adviser broking services, the Macquarie Asset Manager, mortgage products and a private equity trust.
"They are run under different business units and potentially, 10 different Macquarie representatives could knock on a financial planner's door, " Farrelly says.
"Customers will now receive less of those wasted calls from us, but they will spend more time with a single individual from Macquarie who will explore their needs more closely."
Ahead of the move, Macquarie began training its staff last month. Farrelly expects the new channel to be in place by the end of September. <B>
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