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 3 weeks ago

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

2 months 3 weeks ago

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

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 4 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 2 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND