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
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
