Macquarie responds to FOFA with new products
Macquarie Wrap says it has responded to the changing industry environment and shift to fee-for-service with the launch of a new range of investment, superannuation and pension accounts.
The Consolidator Series will be completely free of adviser rebates and commissions, and will offer administration fees based on the total value of a client’s account, irrespective of the number of holdings within a portfolio.
Justin Delaney (pictured), head of insurance and platforms for Macquarie Adviser Services, said the addition was designed to help advisers respond to the shifting expectations of clients and regulators.
“The Consolidator Series is our response to the changing industry environment, offering a more flexible and competitive pricing model, which includes fee capping for transparency,” he said.
The new series will allow clients to consolidate their managed investments and direct shares in one place, without any automated transaction of transfer-in fees.
Through its portfolio pricing structure, the new products also support Macquarie Wrap’s model portfolio functionality launched last year.
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