MLC to align investment platforms
MLCplans to bring together its two investment platforms, MasterKey and Flexiplan, in a bid to enhance the product offering of both product in the areas of client services and business management.
“We are aligning these two offers and will borrow something from Flexiplan to enhance MasterKey,” MLC Adviser Services national manager of business platforms Elyse Sainty says.
According to Sainty, it is no secret that MLC would like to combine the platforms in the future, however there is a lot of work to be done in the meantime to ensure such a move does not comprise either platform.
“In the meantime, we will focus more on the look and feel type issues, so we will be working on such things as common website structures and consistent reporting,” Sainty says.
Enhancements to both MasterKey and Flexiplan are currently in progress, with both platforms taking the best from one and giving it to the other.
In the case of Flexiplan, the EasyStart service will now assist planners in the process of transferring assets and better managing the expectations of clients. It includes the sourcing and preparation of documents and regular updates on the progress of the transfer.
A new asset allocation-modelling tool has also been created to provide ‘what if’ scenarios for advisers and all fees for online transactions will also be reduced by 50 per cent.
To assist financial planners in managing their businesses, MasterKey will no longer brand its online reports with the MLC nest egg logo. Sainty says this move will further reinforce MLC’s support role.
Recommended for you
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
With many advisers preparing to retire or sell up, business advisory firm Business Health believes advisers need to take a proactive approach to informing their clients of succession plans.
Retirement commentators have flagged that almost a third of Australians over 50 are unprepared for the longevity of retirement and are falling behind APAC peers in their preparations and advice engagement.
As private markets continue to garner investor interest, Netwealth’s series of private market reports have revealed how much advisers and wealth managers are allocating, as well as a growing attraction to evergreen funds.
