Asgard keeps it in the family
Platform providerAsgardhas announced it will give fee discounts of up to 32 per cent for linked family accounts.
Up to four Asgard accounts in the Asgard investment fund, superannuation and allocated pension accounts may be linked together, provided accounts are owned by the same investor or an investor’s family member.
Advisers will now be able to calculate the fees and discounts on the combined balance, which are scaled to the size of the accounts, and complete applications through Asgard’s online facility — adviserNET.
Discounts begin at 6 per cent for two accounts with balances of $50,000 each, and increase to 32 per cent for four accounts each with a balance of at least $200,000.
The discounts, which are designed to reward investors for consolidating their investments with Asgard, will reduce administration fees for investors, and enable advisers to promote consolidation and employ cross marketing.
Sealcorp product manager Gary Burford estimates between 10 and 20 per cent of Asgard investors will be able to take advantage of these discounts, but adds that it also provides an incentive for investors with other family members not with Asgard to bring money to the fund, as well as family groups looking for a platform.
Burford also says advisers will benefit from the discounts, particularly when employing planning strategies which require the operation of multiple accounts.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
