Olivia McArdle

Bell Financial Group Ltd (ASX:BFG) has announced that it has reached an agreement with Macquarie Bank which will see approximately 75,000 accounts transfer from Macquarie Online Trading to its Bell Direct and Desktop Broker brands.

The transition of accounts from Macquarie Online Trading is expected to be completed after 22 February 2025.

Bell Financial Group Co-CEO Arnie Selvarajah said: “Since 2014, Macquarie Online Trading has used our technology platform to provide share trading services under its own brand. This new agreement builds on our long-term partnership and is a testament to the quality of Bell’s online share trading technology and services. It strengthens our position in the market and will provide further opportunities to grow our Technology and Platforms business.”

The transition is expected to be earnings accretive in FY 2025.

Olivia McArdle, Head of Payments and Deposits for Macquarie’s Banking and Financial Services group said: “We’ve enjoyed a longstanding relationship with Bell Financial Group over the last decade. We’re pleased that customers will continue to access the benefits of our powerful and secure Macquarie Cash Management Account via the Bell Direct and Desktop Broker trading platform. Macquarie Cash Management Accounts and any other accounts customers have with Macquarie won’t change, and they can continue to view and access their accounts by logging into Macquarie Online or the Macquarie Mobile Banking app.”

Bell Financial Group’s third party clearing arrangement with Macquarie will remain unchanged.

The post Bell Financial Group to grow online share trading accounts following agreement with Macquarie Bank appeared first on AdviserVoice.

Macquarie’s Adviser Initiated Payments (AIP) enables advisers to initiate and make payments for clients quickly and seamlessly from their Macquarie cash account. Clients can seamlessly authorise payments on the go with mobile-enabled capability, speeding up the process and removing the need for paperwork.

Clients have complete visibility of the payment process and added security through a two-step verification process. Once the payment has been initiated by their adviser, clients receive a secure code via SMS, which is then verbally provided to their adviser to authorise the payment. A confirmation email and SMS is sent to the client once the transaction is complete.

Olivia McArdle, Head of Payments and Deposits for Macquarie’s Banking and Financial Services Group, said AIP gives advisers and clients more control when transacting online, representing a faster, more convenient and secure way to make payments.

“AIP delivers a much more personalised experience for our advisers, and with it being available on our online digital banking experience, clients have complete control of their finances.

“Advisers can stay up to date with their clients’ finances quickly and efficiently by managing all of their payment needs through Macquarie’s adviser portal.”

Ms McArdle said that feedback from advisers drives the new innovation and product enhancements Macquarie prioritises to help support their clients and business, and the AIP service is just one example of this.

“We work closely with advisers to understand their needs and ensure the solutions we offer help them to achieve their goals for their clients and business

“Central to our approach is our focus on continued innovation to ensure our offering remains at the forefront of the market. With one in three self managed super funds choosing to use our CMA, we’re investing significantly to build a level of functionality in our CMA that’s unparalleled in the market,” Ms McArdle concluded. 

The post Macquarie unveils new digital payment service for advisers   appeared first on AdviserVoice.