The new financial year always brings change, and 2019/20 is one of the more dynamic in recent times. An array of rates and thresholds have moved, but the first week of this July brings more than just incremental changes. A number of rules affecting the clients of financial planners are markedly different in the new financial year. This month there are a dozen of these changes that planners need to know about;
KeyInvest has announced reductions to the administration fee for its Life Events Bond. The reduction will take effect on the 5th December and will be of benefit to all investors in the product.
The new administration fee is 0.30% per annum, making the Life Events Bond one of the most price competitive products in the investment bond sector.
Russell Investments has made some minor changes to some of their investment option names – some of these feature in the KeyInvest Life Events Bond.
Significant enhancements have been made to the Life Events Bond (LEB) including increasing the investment choice to 27 investment options from the current 8 options.
Andrew Meinel General Manager Financial Services says “KeyInvest has responded to client and financial adviser feedback and given the LEB a significant overhaul to improve client outcomes”. The changes include making automatic increases to regular savings plans (RSPs) available to make sure RSPs keep pace with inflation or to maximise the tax benefits under the 125% rule.