Expands tailored personal banking within professional services markets
Investec offering bespoke personal banking offering for financial advisers.
Specialist Bank Investec Australia has broadened its position in catering to niche professional clients with the rollout of a bespoke personal banking offering for financial advisers.
Investec Australia currently works with around 250 independent financial advice firms nationally, managing approximately $750 million of their client funds. To build on this strong adviser presence, the bank is now actively seeking to specifically provide financial solutions for advisers themselves.
According to Investec Australia’s head of IFA distribution, Gareth Bird, the focus on financial advisers will incorporate flexible lending practices similar to those offered to other niche market segments such as medical, dental and accounting practitioners.
“Financial advisers are a unique group of clients with a distinct set of banking requirements. The ability to offer a bespoke range of products to this market segment follows many years of working alongside them and their clients, so we’re already familiar with their financial needs.
“To date, there have been very few banking solutions developed to specifically help financial advisers effectively and efficiently manage their own personal finances. We have a strong track record in providing bespoke solutions across professional services and by understanding specific needs of financial advisers we are able to provide niche banking services in one convenient bundle,” he said.
Investec Australia is now offering financial advisers the following products:
- Residential mortgages and investment property – including the ability to borrow up to 90% for residential and 85% for investment loans with no Lenders Mortgage Insurance, and up to 70% LVR for commercial property within a SMSF
- Car loans – including finance available for new or used vehicles and the ability to use an Investec credit card to buy a new car and earn Qantas Points on the purchase as well as rolling the expense into a fixed term contract with Investec and earn more Qantas Points on the monthly repayments.
- Premium credit cards, including Visa Signature and Platinum credit cards – including no cap on how many Qantas Points can be earned and complimentary travel insurance
- Investec One Account provides an unparalleled bundled offer incorporating a high interest savings account, an optional overdraft facility up to $30,000, a debit card, online and mobile banking functionality, and around-the-clock personalised service.
- Foreign exchange expertise – including access to experts who can help with conversions, overseas transfers and quotes on live exchange rates, same day transfers with no minimum value, competitive rates, and access to currency deposits in USD, EUR, JPY and GBP
- Competitive savings account – including a range of term deposits which have been awarded
- ‘Best Value Term Deposit’ 2012 and 2013 by Canstar, commended for it’s high interest, flexibility and innovative features
Mr Bird said the move by Investec Australia to offer financial advisers a tailored personal banking service which is out of the ordinary, is designed to provide a more responsive and flexible offering than major financial institutions.
“In their own dealings with clients, financial advisers strive to give a streamlined process with exceptional client service. We now have the capability to offer this value proposition to the advisers themselves, who – by virtue of their own knowledge and experience – seek financial solutions that are tailored, relevant and competitive,” he said.