CFS adds margin lending offering to FirstChoice
Brian Bissaker
ColonialFirstState has added a margin lending option to its FirstChoice platform, with the group becoming the first in the market to offer advisers a fully integrated margin lending solution.
The introduction of FirstChoice Margin Lending for non-super investments will be available from April 30, 2007. As well as launching its margin lending offering, Colonial First State will roll out 12 new investment options, which will include new multi-manager Asian Share and Global Infrastructure Securities funds.
Colonial First State chief executive officer Brian Bissaker said the inclusion of a margin lending offering stems from the increased popularity of margin lending, which he said is now one of the most common forms of gearing in Australia.
“Importantly, we have advanced FirstChoice and added the margin lending system by making sure that ease of use is paramount. The ease of use will be complemented with a competitive interest rate for investors,” Bissaker said.
“The most exciting part of this new solution is that everything advisers and investors enjoy about FirstChoice around value, service and choice can now be found in FirstChoice Margin Lending, providing even better value for money.
“Also of interest to advisers and investors is that if they pre-pay interest before the end of June, they should be able to claim the tax benefits on this year’s tax return,” Bissaker said.
Key features of FirstChoice Margin Lending include no establishment fees, highly competitive interest rates, fast online applications through FirstNet Adviser (creating business efficiencies), one Product Disclosure Statement and application for FirstChoice Investments and FirstChoice Margin Lending, loan approval and investments generally confirmed within 48 hours, Colonial First State adviser services team managed investment and loan enquiries, a margin lending facility fully integrated into FirstNet Adviser, which provides functionality to monitor and transact on loans, investments and segment clients, and simple 50 per cent loan to value ratio, which provides an additional $1 for every $1 of money invested.
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