Australian Money Market (AMM) has announced that Margie Watson has joined the team as their new General Manager with over 10 years’ experience in the retail banking sector.
With an established presence in the financial advisory industry and specialist experience in providing cash solutions for financial planners and stockbrokers, Ms Watson brings her expertise in investment and cash management to the AMM team.
“Recent legislative changes are set to work in the company’s favour with it becoming increasingly cumbersome for advisers to establish relationships with individual term deposit (TD) providers”, said Ms Watson.
AMM’s term deposit platform offers a solution to this. Through using the platform, advisers have established an indirect relationship with more than 20 TD providers without the administration burden of transferring the funds.
Ms Watson believes with $2.8 billion in funds under advice, the AMM business model is proven and there is significant potential for the company to grow further.
“Despite interest rates being at an all-time low, cash will always be an important part of any investment portfolio, especially SMSFs,” she said.
Advisers only need to fill out one initial application form to access the wide range of short, medium and long-dated term deposit rates listed on AMM’s website across more than 20 Australian banks, building societies and credit unions.
With 24/7 access, advisers can place deals online for clients anytime at the click of a button.
All the financial institutions available through AMM are Approved Deposit-Taking Institutions (ADI’s) covered by the Government Guarantee Scheme.
AMM’s platform technology has advanced over time to include reporting capabilities, data feeds to adviser software packages, confirmation storage, auto reconciliations, maturity alerts and audit certificates.
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