Australian Money Market is a fully transactional term deposit platform that has been specifically designed for financial advisers to make the process of investing in term deposits as simple as possible.
The Australian Money Market platform requires just one initial application form to be completed to allow access to a range of institutions listed on the site. The platform allows advisers to view the rates of various institutions and transact on the web with a click of a button. The funds are always held in accounts with financial institutions in the name of the client. Australian Money Market does not hold any monies on trust for clients. Upon the maturity of a term deposit, you are able to switch to a different institution and the funds are transferred automatically. Cash transfers are always bank to bank and remain in the name of the client.
Benefits include:
- automatic completion of all application forms and contract notes (after the initial account with Australian Money Market is opened)
- simple switching of funds between institutions upon rollover that enables clients to continually maximise interest earned
- bank deposit rates are displayed in one place allowing clients to shop for the best rate at a glance for the best return, allowing certainty of earnings and savings.
- full client confidentiality ensuring the term deposit provider can not market to clients
- full history of financial transactions provided at the end of the tax year without any transaction fees
- flexible commission rates
