Macquarie moves to speed up advice
Macquarie has launched a new planner-oriented product — an online application process with electronic verification to help advisers open cash accounts for their clients more quickly.
The new service, launched this week, is intended to allows advisers to work faster and more efficiently by enabling them to submit applications for Macquarie Cash Management Accounts and Macquarie Bank Term Deposits through Macquarie Access.
According to the group, by allowing clients to authorise applications online and using electronic verification to identify clients, the process helps advisers to streamline administration.
Commenting on the new offering, Macquarie Adviser Services head of product - Cash and SMSF Solutions, Peter Forrest, said the new application process could be used to open individual, joint, company, SMSF and trustee accounts.
"Advisers are increasingly looking for solutions which allow them to work more efficiently, and technology plays an important role in streamlining the processes which can help them to do this," he said.
Recommended for you
Advisers at DOD Bookkeeping, which received an $11 million penalty last week, received as much as 40 per cent of their remuneration via a bonus when clients purchased a property via a SMSF, according to court documents.
Private wealth manager Escala Partners has launched an end-to-end investment platform to strengthen its alternatives capability as clients seek sophisticated vehicles.
Perpetual Wealth Management has hired two advisers from Ord Minnett as part of five hires, just weeks after the rival firm announced it had picked up six from Perpetual Private.
ASIC has cancelled the AFSL of a Perth financial services firm following payments to its clients by the Compensation Scheme of Last Resort after a failed managed investment scheme.
