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Dr. Mark Sinclair
Dr. Mark Sinclair, Mentor Education

Investec launches banking products for advisers.

26 November 2013

Investec Australia bank and Asset Manager has launched a personal banking offering for advisers.

The new offering designed for advisers will include residential mortgages and investment property, car loans and premium credit cards and offers the ability to borrow up to 90% for residential mortgages and 85% for investment loans with no lenders mortgage insurance, and up to 70% for commercial property within a self-managed super fund (SMSF).

Investec Australia currently works with about 250 independent advice firms and manages approximately $750 million of client funds, but their latest foray will see it expand its financial adviser presence

Investec also offers credit cards, a savings account, car loans and foreign exchange services.

Investec Australia head of IFA distribution Gareth Bird said that, “financial advisers are a unique group of clients with a distinct set of banking requirements,” and “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.”

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