| News Release | 28 August 2001 |
Macquarie Portfolio Services today released details of its much anticipated superannuation and pension service which takes the complication out of managing superannuation and is a realistic alternative for a large number of DIY super funds.
Macquarie Super and Pension Manager will be offered through Macquarie's WRAP account to financial advisers and their clients.
Macquarie Super and Pension Manager were developed following extensive consultation with a wide range of financial planners who clearly identified the needs of their clients and highlighted aspects which were plainly missing in any superannuation or pension product currently in the market.
Macquarie Portfolio Services Division Director Neil Roderick said he believed this was the first time that a realistic and considerably cheaper alternative to any DIY super solution has been made available to financial advisers and their clients.
"This service gives both investors and advisers greater flexibility and control, allowing them to easily change the profile of their investment as required," Mr Roderick said.
"Both the Super Manager and the Pension Manager allow advisers to help their clients meet their retirement goals by giving them the management tools they need to make the most out of their super or pension portfolios including online transacting and reporting."
A much wider range of investment options can be accessed through the Macquarie Super and Pension Manager including more than 160 different wholesale managed funds and any ASX listed security except ETOs and warrants. Advisers and their clients can chose from sector specific managed funds including cash, fixed interest or Australian equities, International equities, listed properties or even through hedge funds.
"This management tool is unique in that it allows advisers and their clients to consider investing in a much broader range of listed securities and makes their superannuation portfolio much more visible through online reporting to investors as well as advisers," Mr Roderick said.
However, Macquarie Investment Management Limited (MIML) has established guidelines on some direct listed securities holdings to ensure clients' portfolios contain an acceptable level of risk.
Advisers will also be able to transfer clients' existing listed securities into the Macquarie Super and Pension Manager without the need to liquidate them to cash and re-purchase them once they are within the service.
Advisers can amend their clients' pension levels online through the Macquarie Portfolio Services website and both advisers and clients will receive confirmation of the new pension payment and an amended advice for CentreLink in the mail.
Other features of the Macquarie Super and Pension Manager is:
While DIY funds are generally quite expensive to establish the Macquarie Superannuation and Pension Manager will save both advisers and clients money on fees depending on the amount of funds under management
The Macquarie Super and Pension Managers are available to financial adviser clients with $20,000 or more to invest.
| For further information contact: | |
| Irene O'Brien | |
| Public Relations Financial Services Group | (02) 8232 3241 0417 260 309 |
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