MLC Expand introduces ETFs on new low-cost investment menu
Insignia Financial’s wrap platform MLC Expand has launched a new investment menu, delivering low-cost access to ETFs and term deposits for advisers and their clients.
In addition to the existing suite of MLC managed funds and SMA model portfolios already available on Expand Essential, MLC’s low-cost super, retirement and investment wrap platform, users will now have access to the new Essential+ menu.
Namely, the investment menu includes term deposits from ANZ and NAB, as well as ETFs from Betashares, iShares by BlackRock, and Vanguard. According to the firm, these new options will enable greater access to a broader range of asset classes and investment styles for advisers and facilitate more tailored portfolio construction and diversification.
Designed in collaboration with advisers, MLC Expand chief executive Liz McCarthy said this new offering “enhances choice without compromising on cost or simplicity”, reflecting the firm’s ongoing commitment to supporting the needs of advisers, back-office staff, and their clients.
“We know that ETFs are growing at a record rate in Australia, and the addition of ETFs within Expand Essential+ is a unique offering in market and meets this adviser and customer demand.
“The new Expand Essential+ investment menu builds on the simplicity and value of Expand Essential by partnering with leading providers to offer access to term deposits and ETFs, to deliver better outcomes for clients and give advisers more flexibility to tailor investment strategies.”
By partnering with key market players, McCarthy said, MLC is “giving financial advisers the tools to deliver better outcomes for their clients, whether they’re looking for stability through term deposits or growth via ETFs”.
This comes after MLC Asset Management, another branch of Insignia, announced a reduction in management fees on its MLC MultiSeries model portfolios at the end of July.
The series comprises four portfolios designed for differing risk portfolios and investors seeking long-term growth. With this announcement, management fees were reduced on the MiltiSeries 30, 50, 70 and 90 portfolios, coming down from a range of 0.40–0.55 per cent per annum to 0.32–0.47 per cent.
The firm also spruiked the release of MLC Retirement Boost, which will be available on the MLC Expand platform for advisers to use with their superannuation clients, set to be released later this month.
AUTHOR
Shy-Ann Arkinstall
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