Austock launches new bond product
Austock has come to market with a new product it says will assist advisers with clients dealing with the Centrelink income test.
The product, announced by Austock this week, is the Bonds Custodian Trust (BCT) which the company claims is a streamlined mechanism for creating a bare holding trust at the same time a bond is being issued.
Austock claims this can be achieved for a flat $100 fee with no stamp duty or ongoing costs.
Commenting on the product Austock’s Richard Atkinson said he could see great potential for the product such as current Aged Care Income Tested Fees and the future deeming of account-based pensions.
AUTHOR
Mike Taylor
Recommended for you
High-net-worth advisers seeking to grow their businesses are likely to find alternatives to be a key part of the puzzle amid investor demand, according to Praemium’s head of private wealth.
The financial advice profession has lifted back above the 15,500 mark this week thanks to a double-digit net rise in adviser numbers, according to Wealth Data.
A closer watch on licensees that fall short on cyber security protections is among a dozen new enforcement priorities announced by the corporate regulator for 2025.
Research house Morningstar has welcomed a new director for manager research to cover Australian and New Zealand fund managers.
