Mariner expands lifestyle bond portfolio
Mariner Financial yesterday lodged prospectuses with theAustralian Securities and Investments Commission(ASIC) for two new versions of its recently launched Lifestyle Bonds product.
While the variations mirror the original core Lifestyle Bond (Additional Interest), they differ on how the products’ return to investors is calculated.
The additional versions are in line with the group's mission to provide retail investors with better choice and flexibility in their investment and retirement planning.
The group’s Lifestyle Bonds are fixed-term investments providing a long-term income stream, and investors choose a term of seven, ten, twelve or fifteen years to suit their time horizon and investment needs.
The new versions are the Mariner Lifestyle Market Linked Bonds and the Mariner Lifestyle Fixed Rate Bonds.
Mariner has also lodged a replacement prospectus for its Lifestyle Bond (Additional Interest), originally lodged in December.
Mariner founder and managing director Bill Ireland says in the light of recent concern over levels of retirement income, the bonds offered an option for retirees to manage their assets and cash flow requirements.
“Our market research shows the Australian financial services landscape has focused very much on growing investors' wealth during their "accumulation" phase of working life, but has failed to develop adequate solutions for people trying to manage their finances through retirement,” Ireland says.
Mariner suggests the bonds could be used as a core retirement investment; as a solution for “asset rich/income poor” retirees (for example, helping them stay in their family home longer); to construct a complying pension; to fund children's university years; or to extend the life of an allocated pension.
Recommended for you
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
As advisers seek greater insights into FSCP determinations, what are the various options considered by the panel and can a decision be appealed?
Amid the current financial adviser shortage, advice firm Link Wealth is looking to expand its financial literacy program for high school students across the country.
TAL Risk Academy has updated its range of ethics courses to help financial advisers meet their CPD requirements following adviser feedback, including interpreting FSCP determinations.
