New SMSF product
Another product has been launched into the market aimed at allowing self-managed superannuation funds (SMSFs) to invest in residential property.
The product is the Power Super Warrant, which is backed by ING Direct and being marketed by Power Super.
The head of distribution at Power Super, Jo Parkinson, described the product as an innovative and very conservative structure that allows SMSFs to invest in an asset class that delivers secure and reliable investment returns over the medium to longer term.
He said the warrant ensured compliance with all aspects of the relevant legislation including satisfying the requirements of the Australian Taxation Office.
“Given the recent volatility in global financial markets and the fact that the value of many Australians’ superannuation has been impacted by this crisis, this product gives more control to SMSFs and provides access to one of the most stable and safe asset classes,” Parkinson said.
He said the product would be offered through professional advisers such as accountants and financial planners and this would add a further degree of security to investors.
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.