Yellow Brick Road launches own term deposits
Yellow Brick Road Wealth Management has launched its own term deposits, claiming to be the first non-bank in Australia to do so.
Yellow Brick Road executive chairman Mark Bouris said in offering term deposits, the company was continuing to close the gap between the big banks and independent lenders, severing the big banks’ stranglehold on the industry.
“We will fight for the consumer by opening up the playing field to a new level of competition,” he said.
The term deposits are issued by Gateway Credit Union, an authorised deposit-taking institution in Australia.
Yellow Brick Road stated that its aim was to offer personal, all-encompassing wealth management solutions, including home and personal loans, superannuation, accounting, taxation and financial planning.
Recommended for you
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
