MLC releases key products for advisers
MLC has unveiled a new investment system for advisers which, it says, will take the master trust concept into a new era.
MLC has unveiled a new investment system for advisers which, it says, will take the master trust concept into a new era.
Called MasterKey, it is being billed as offering outsourcing solu-tions and financial planning flexibility.
The system is part of a drive by MLC to reposition itself ahead of the rapid growth in funds under management and administration ex-pected in Australia.
Its introduction coincides with the launch of modernised MLC logo and a $10 million-plus advertising campaign to bolster the MLC brand.
MLC chief executive officer of distribution Steve Tucker says it al-lows advisers outsource the selection of investment managers, freeing up their time to add value in other areas.
Built over a seven-month period and in response to adviser feedback, the system's features include on-line client information and report-ing capabilities, a comprehensive menu of tax structures and asset classes and an on-line library of technical and investment research.
It also boasts a remuneration package which rewards both investors and advisers as portfolios grow. Investors will receive refunds - 0.17 per cent on portfolios valued at $200,000-$400,000 and 0.32 per cent for those worth over $400,000, while advisers will see a big rise in trail commissions as balances grow.
Higher thresholds for these refunds can be achieved by aggregating all a client's accounts together or by linking the portfolio to that of an immediate family member.
Advisers' clients can access their portfolios anytime on an upgraded web site on the Internet.
"In MLC, advisers can now access the benefits of the fastest growing discretionary Master Trust in FlexiPlan as well as the most comprehensive non-discretionary master trust in MasterKey," Tucker says.
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