Yellow Brick Road Wealth Management has launched its own term deposits, claiming to be the first non-bank in Australia to do so.
Yellow Brick Road executive chairman Mark Bouris said in offering term deposits, the company was continuing to close the gap between the big banks and independent lenders, severing the big banks’ stranglehold on the industry.
“We will fight for the consumer by opening up the playing field to a new level of competition,” he said.
The term deposits are issued by Gateway Credit Union, an authorised deposit-taking institution in Australia.
Yellow Brick Road stated that its aim was to offer personal, all-encompassing wealth management solutions, including home and personal loans, superannuation, accounting, taxation and financial planning.
