Macquarie wraps up margin lending
Macquarie’s wrap service has signed up with Colonial to use the group’s Investment Accelerator margin lending service.
Macquarie’s wrap service has signed up with Colonial to use the group’s Investment Accelerator margin lending service.
Macquarie Portfolio Manager (MPM), plans to offer margin lending initially through a pilot project involving a number of dealer groups. In July, Macquarie expects to expand the geared loan feature to all MPM users.
Macquarie says that in future, MPM will include geared equity products from additional provid-ers.
Macquarie division director Neil Roderick says research into the priorities of Australian financial planners and their clients had revealed demand for a margin lending facility that could be ac-cessed and monitored by a wrap account.
"Geared investment is increasingly popular as a wealth creating strategy in today's financial services marketplace," Roderick says.
"A sophisticated wrap account like Macquarie Portfolio Manager is the best was to accurately monitor these investments.”
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