Specialist bank Investec Australia is ramping up its holistic banking offer to financial planners, offering 100,000 Qantas Points to new credit card clients who are approved for an Investec Signature Card during the month of July and spend over $15,000 within 3 months.

For clients who take out a Platinum credit card in July, Investec are offering 50,000 Qantas Points if they spend $5,000 or more within 3 month.

The new credit card offer forms part of Investec’s suite of exclusive personal banking offers for financial advisers, following the announcement earlier this year of discount mortgage rates specifically for IFAs.

Investec Australia’s Head of Adviser Services, Gareth Bird, said the credit card offer cemented the bank’s commitment to providing advisers with tailored personal banking solutions designed specifically for this market.

“Our pedigree as a specialist lender puts us in the perfect position to offer more flexible, responsive banking offerings to advisers. We see the credit card offer as a natural extension of that, rewarding our adviser clients with a unique personal banking experience they may not get from their usual lender,” he said.

The announcement also follows the news in early April that Investec’s Professional Finance business has been acquired by BOQ. Mr Bird said the sale would provide further opportunities for the bank to offer new and innovative personal banking products for advisers.

“The Bank of Queensland acquisition provides the ideal infrastructure and balance sheet for us to broaden the scope of our banking offering to advisers, and we expect to offer a broader range of banking products and services in the near future,” he said.

In addition to preferential home loan rates, Investec Australia offers a number of bespoke personal banking solutions for the adviser market including LMI-free mortgage options, commercial property lending for SMSFs, and vehicle finance.

“As experts in this space we have been able to tailor a number of banking products specifically for advisers,” Mr Bird said. “Our six year history of working closely with adviser clients has given us the specialist insight to be able to build a banking offering for advisers themselves.”

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Specialist bank Investec Australia has reduced the interest rates on its tailored home loan offering for financial advisers.

Advisers will now be able to access home loan packages from as low as 4.54% p.a. for two-year fixed rates* (4.79% p.a. comparison rate**), and 4.79% for variable rate loans* (4.84% p.a. comparison rate**).

The new interest rate offer follows an announcement by the bank late last year that it would actively target its existing network of independent financial adviser firms as well as the broader adviser services market, offering bespoke personal banking solutions including LMI-free mortgage options, commercial property lending for SMSFs, and vehicle finance.

Investec Australia’s Head of Adviser Services, Gareth Bird, said the rates reduction reflected the bank’s continuing commitment to provide advisers with flexible, responsive banking offerings designed exclusively for this market.

“Our position as a specialist lender allows us to partner with advisers in a way that very few others in the market are able to. We’re pleased to be able to add preferential home loan rates to that offering, and extend even further the range of tailored products we provide to professional IFAs,” he said.

The reduced rates available to IFAs also present an attractive offering given market conjecture that official Reserve Bank interest rates are unlikely to move lower than their current level. The RBA has held rates at 2.5% since August 2013, and economists are predicting a rise in the medium term, creating an opportunity for advisers to lock in a great value deal.

“As experts in this space we have been able to tailor a home loan offer specifically for advisers”, he said.

Mr Bird said the adviser services team would continue to innovate when it came to offering competitive banking solutions for advisers.

“Over the past six years we have worked closely with the client’s of advisers, and are now in the process of broadening our offering to include personalised lending designed for the advisers themselves,” he said.

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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.

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