Privately-owned financial services firm netwealth has launched a lost cost super product targeting financial advisers and clients.
Super Accelerator, launched today, was developed to allow clients to customise the administration fees on their investment and insurance holdings.
Netwealth executive director Matt Heine said the new offering comes in response to feedback from financial advisers and their clients.
“Advisers and their clients have been asking for real alternatives to industry funds and bank owned products,” he said.
Heine outlined the administration costs for Super Accelerator’s two offerings.
Administration costs for Super Accelerator’s ‘Core’ offering is 0.35 per cent of account balances up to a maximum account balance of $250,000, he said.
The Super Accelerator ‘Plus’ offering has a fee cap at $1 million and allows up to six accounts to be linked for fee aggregation purposes.
“Our focus continues to be on providing responsive and full featured platform services that are built to meet the needs of advisers and their clients and not those of any institutional parent” Heine said.
