Avanteos adds to defensive arsenal
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.
Recommended for you
As the year draws to a close, a new report has explored the key trends and areas of focus for financial advisers over the last 12 months.
Assured Support explores five tips to help financial advisers embed compliance into the heart of their business, with 2025 set to see further regulatory change.
David Sipina has been sentenced to three years under an intensive correction order for his role in the unlicensed Courtenay House financial services.
As AFSLs endeavour to meet their breach reporting obligations, a legal expert has emphasised why robust documentation will prove fruitful, particularly in the face of potential regulatory investigations.
