Wealthtrac launches term deposits
Platform Wealthtrac has launched a term deposit product that it claims offer clients the lowest minimum deposits available on any platform in Australia.
The ANZ-backed term deposits are available on Wealthtrac’s super master trusts and also IDPF portfolio service at a minimum $5,000 deposit.
“What makes our product quite unique in relation to some of our competitors is that our competitors have significantly higher minimum deposits,” Wealthtrac head of distribution Matthew Johnson said.
“A lot of our competitors have already launched term deposits, but we think we have managed to come out with a product that suits all our members and all potential clients.”
The rates on the deposits — available on a 90-day, 180-day and a one-year term — are subject to change and are updated on a weekly basis, he said.
Recommended for you
Financial advisers are reminded to ensure their CPD is up to date with the Financial Services and Credit Panel making its second determination in a week after an adviser failed to meet the requirements.
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
While efficiency remains a top priority for Australian advisers, State Street has revealed the profession is now juggling this desire with the need to maintain personalisation of its service offering.
A possible acquisition of data provider Iress is becoming a greater likelihood after the firm announced it is engaging with multiple interested parties.
