Avanteos adds to defensive arsenal

term-deposits/market-volatility/commonwealth-bank/advisers/cent/

21 May 2008
| By Justin Knight |

Melbourne-based wrap platform administrator Avanteos has added term deposits to its range of defensive investments in response to growing demand from advisers and their clients for products that will help them weather market volatility.

“Advisers want a range of options to suit differing needs,” Avanteos general manager, product and distribution, Steve Thomas, said.

Avanteos’ new Commonwealth Bank term deposit carries an AA- rating and is available for terms of one, three, six and 12 months with rates of up to 8.2 per cent per annum. The minimum investment is $25,000. The company will also offer a 12-month Adelaide Bank deposit for those looking to invest upwards of $50,000.

Thomas said the term deposits complement the Avanteos platform’s range of negotiable certificates of deposit, which have proved popular since their introduction last year.

“We’ve experienced a six-fold increase in funds under administration into this investment type over the past few months, which simply highlights the demand for defensive investments,” he said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks 1 day ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

3 weeks ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 6 days ago

TOP PERFORMING FUNDS