St George Margin Lending adds regular gearing service
St George Margin Lending has made another enhancement to its margin lending product, a regular gearing facility, confirming its push to raise the product’s profile in the margin lending market.
The new facility, called Savings Gearing, will open up St George’s margin lending product to a broader range of investors, giving younger investors or those on lower salaries the opportunity to invest with an initial sum of as little as $1000.
“Savings Gearing allows financial planners and advisers to get their clients into the market earlier, and by following a disciplined savings plan that is supplemented by borrowing funds, investors can grow their wealth more quickly,” St George Margin Lending head Andrew Black says.
The addition of the Savings Gearing facility is part of St George’s previously stated ambitions to raise its position in the margin lending market.
Earlier this year, St George Margin Lending also added Internet Account Access to its product, giving financial planners around the clock access to their clients’ portfolios.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
