St George launches two minute margin loans
St George Margin Lending (SGML) can now approve applications for its margin lending products online in less than two minutes via its marketing and administrative software package Planner Assist or its website.
The group says the new fast-tracked application process will give it a distinct advantage when it comes to dealing with financial planners, with most margin lenders taking up to 48 hours to approve applications.
SGML head of margin lending Andrew Black says: “We believe it will help financial planners save time, because by getting the loan approved then and there, it reduces the number of times you have to meet with the client once you’ve gone through the initial fact finding and goal setting process.”
The online application process was tested by a number of financial planning dealer groups working alongside St George during February.
SGML has also increased its acceptable securities list to now offer 353 managed funds and 631 direct shares.
“Advisers have the ability to have more diversification in the portfolio as well as being able to gear against it,” Black says.
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