MLC revamps platform investment menu, adds ETFs

MLC Expand has unveiled a new investment menu for its low-cost platform, now providing financial advisers and their clients with access to term deposits and exchange traded funds (ETFs).

The Essential+ suite has been introduced as an offshoot of the Expand Essential platform, with its new term deposit and ETF offerings joining the existing range of MLC managed funds and separately managed account (SMA) model portfolios already available.

The platform will provide access to term deposits from ANZ and NAB, as well as ETFs from Betashares, iShares by BlackRock and Vanguard.

A statement from MLC Expand said the updated menu would allow financial advisers and their clients to diversify their investment portfolio with “greater flexibility and choice”, as well as gain exposure to a wide variety of asset classes and investment styles.

“We have co-created Essential+ with our adviser network, and we’re proud to deliver a solution that enhances choice without compromising on cost or simplicity,” Liz McCarthy, CEO of MLC Expand, said.

“It reflects our ongoing commitment to listening to and partnering with advisers, and their back-office support teams, to continue evolving MLC Expand to help them meet the needs of their clients.

“We know that ETFs are growing at a record rate in Australia, and the addition of ETFs within Expand Essential+ is a unique offering in market and meets this adviser and customer demand.

“The new Expand Essential+ investment menu builds on the simplicity and value of Expand Essential by partnering with leading providers to offer access to term deposits and ETFs, to deliver better outcomes for clients and give advisers more flexibility to tailor investment strategies.

“By partnering with leading investment providers, including Betashares, iShares by BlackRock and Vanguard, coupled with our existing suite of investment solutions from MLC Asset Management, we’re giving financial advisers the tools to deliver better outcomes for their clients, whether they’re looking for stability through term deposits or growth via ETFs.”

According to MLC Expand, its low-cost platform is also the only one to house ETFs.