Macquarie launches mortgage product
Macquarie Bank has launched a new mortgage-based product that is aimed at borrowers who want to use their mortgage as part of their wealth creation strategy.
The new product, Mortgage Solutions, is being marketed as providing advisers with an integrated financial services product they can offer to borrowers to help them manage their mortgage and cash flow.
The new product has been designed on the basis of research conducted by Macquarie Practice Consulting, which found that a third of planning practices would consider diversifying their businesses to include a mortgage offering.
Commenting on the product, Macquarie Adviser Services' head of product and technology, Frank Ganis, said the research suggested there was an opportunity to offer a debt product that was focused on wealth creation.
The flagship product under the new offering includes options such as the Macquarie Platinum Credit Card, sub-accounts and a facility-level borrowing limit, which Ganis said allowed advisers to easily implement debt recycling and other wealth creation strategies.
AUTHOR
Mike Taylor
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
