SMSF Service Provider Awards: SMSF term deposits
According to AMP Bank chief operating officer Rob Slocombe, variations and inconsistencies found in term deposit offerings will not win any favours with advisers in this day and age.
“One of the common things we hear from financial planners is the need for consistency,” Slocombe says.
“They want to ensure that their clients are placed with product providers who offer consistent service and product pricing.
“We’re very conscious of this and aim to always provide the right level of support for both planners and their clients.”
AMP Bank took home the CoreData SMSF award for term deposits in the SMSF advising financial planner category.
“We’re very pleased to have been recognised in the CoreData SMSF awards, particularly in a product category voted on by financial planners,”
“These awards reflect the tailoring of our product range to better suit clients, including SMSFs advised by financial planners.”
The bank offers a range of term deposits through the retail, platform and superannuation channels, allowing its customers to access its competitive rates through a variety of ways, he says.
“We’ve been supporting AMP Group’s SMSF division with the provision of a range of SMSF-specific products,” he says.
“These include the AMP SuperEdge loan for investment property and the AMP SuperEdge cash, pension and savings accounts.”
Advisers want a range of investment options for their clients that balanced risk with return, particularly during periods of market volatility, he says. “Advisers are always looking for a range of investment options for their clients, balancing risk with return, particularly during periods of market volatility,” he says.
“We’ve found term deposits to be a great fixed interest option for clients, allowing diversification of their investments. Reflecting this demand, our term deposit products have experienced strong growth across all terms this year.”
AMP Bank examines the positioning of its products and pricing continuously and spends time listening to its customers and financial planners, he says.
“The creation of our specialised range of AMP SuperEdge products was born from this process,” he says.
“We aim to provide market-competitive terms and rates and to provide innovative new products.
“For example, in June this year we launched the AMP Notice account and our range of new AMP SuperEdge loan and deposit products.”
AMP Bank SMSF solutions director Samantha Clarke accepted the award on behalf of the bank.
More SMSF Service Provider Award winners
- Perpetual: Australian share fund
- PIMCO: Fixed income
- BGL: SMSF accounting software/administration
- Magellan: International shares
- Macquarie Adviser Services: Cash and accounting
- Colonial First State: Investment platforms
- Multiport: SMSF administration
- TAL: Life insurance
- ING Direct: Term deposits
- AMP Capital: Commercial property
- NAB: SMSF property loans