Product News – 9 December 2004
Aviva-owned platform provider Navigator has added direct shares to its investment platform. Navigator superannuation and retirement clients will be able to invest directly in a range of ASX 200 shares including stocks from Coles Myer, Telstra, Commonwealth Bank and BHP. As part of the new service, Navigator will provide share administration and transacting technology, including access to equities research. It will also allow online switching between managed funds and shares.
A new on-line investment group, Discount Managed Funds (DMF), has entered the market.
DMF is an authorised representative of Financial Wisdom and set up by financial planners who saw a need for smaller investors to be able to access managed funds direct and without a fee. The 100 per cent rebate of upfront commission is in the form of additional units in the investment fund. There are no transaction fees charged for buy, sell or regular investments charged by DMF. The products available on the site include: BT, Colonial First State, Merrill Lynch, Perpetual, Advance, HSBC, Lifeplan and Aurora. Any additional products can be requested through the site.
MLC Advice Solutions has introduced a custom online fee collection system. AdvicePay will enable both direct debit and credit card transactions online, and will be available to all aligned self-employed advisers from December. AdvicePay will allow advisers to offer their clients choice in both how and when they pay advice fees and collect and manage client fees.
AdvicePay will be available for use by MLC’s aligned self employed advice businesses within Garvan Financial Planning, Apogee Financial Planning, MLC Financial Planning and Godfrey Pembroke.
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