Bridges looks to lower cost options and portfolio flexibility
Bridges Financial Services is set to launch two new investment plans in its established portfolio service platform aimed at providing solutions for the less active client in the superannuation accumulation phase.
Bridges chief executive Michael Carter said the new investment plans were in response to feedback from advisers that were looking to better “segment solutions” for their clients.
He said the investment plans were a lower cost option for clients that were looking for quality advice and wanted investment choice, but did not necessarily need the actively traded investment strategies.
“We think this is going to fit really well with that middle Australia market that is looking for a lower cost option, with that choice and flexibility for the planners to customise the advice solution,” said Carter.
Carter said the direction Bridges is taking is to provide pricing that works for the less sophisticated investor.
“The investments will have an admin fee of 40 basis points and there will be not investment limit — whereas many options in the marketplace or more basic products have limits on them,” he said, adding that it is providing planners with the full managed funds menu, with 90 investment options as well as term deposits and some exchange traded funds.
“So if they are looking for some cost-effective alternatives to a managed index fund from a listed equity point of view then they can do that in a simple way,” he added.
“We’re providing a really good solution where planners are looking for something that gives them choice and flexibility, but they can get that tailored investment strategy that really suits that style of clients and their needs for the long term,” said Carter.
AUTHOR
Caroline Munro
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