ANZ launches combined trading and cash management account for advisers using the Etrade platform.
ANZ Banking Group has released a combined trading and cash management account, which can be accessed by financial advisers who use the Etrade platform.
Named ANZ V2+Broking, it can be used by planners to easily access their clients' funds to buy and sell shares.
It also has a simplified portfolio management system, and the money in the account earns a high rate of interest.
ANZ cited other features including auto-crediting of dividends into the account and consolidated reporting tools.
"Previously advisers using Etrade's services could only access their clients' funds from an external cash management account to buy shares," Etrade managing director John Daley said.
"ANZ V2+Broking account removes the middleman from the process."
ANZ's move follows CommSec's launch of an investment account for traders earlier this year, which offers auto-crediting, promotional high interest rates and instant access to trading funds.
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