WEEKLY WRAP: People, Products and Companies

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Macquarie Wrap’s Consolidator Series achieves $4 billion in funds under administration – a two-fold increase compared with a year ago.

The Consolidator Series allows clients to consolidate their managed investments and direct equities in one place and pay fees based on the total value of their account, irrespective of the number of holdings within their portfolio. The Consolidator Series now services more than 1,750 advisers and more than 350 dealer groups.

Mortgage Choice was awarded the CommBank Partnership Award at the Commonwealth Bank's Third Party and Mobile Banking National Sales Conference. The award recognised Mortgage Choice's commitment and support of CBA’s Third Party Banking business, during its 20 years in business.

Two BetaShares ETFs were awarded Lonsec ‘recommended’ ratings. This included Australia’s first fundamental ETF being rated for the first time, and BetaShares’ Commodities Basket ETF being upgraded from ‘investment grade’.

Bravura has secured a five-year agreement with a state government super client, for the use of Bravura’s Babel software as a SuperStream messaging compliance solution. This is the second sale of Babel since its introduction to the Australian market in December last year.

Babel supports high volume SuperStream message management on a straight through processing basis for both rollovers and contributions.

AUI appointed Paul Banks as head of institutional business, reporting to Fiona Dunn, general manager – funds management. Banks will be responsible for further building AUI’s business through relationships with the institutional market. He has also worked at Goldman Sachs, JBWere, Deutsche Bank, and Macquarie Bank.

Instreet Investment has launched a new adviser focussed website. The website is an upgraded version of its previous website, but with adviser focused content and social media functionality. It can be accessed at http://www.instreet.com.au/

ANZ Private launched its Significant Investor Visa (SIV) solution, which is designed specifically for individuals who have a minimum of AU$5 million for investment in Australia.

Launched in 2012 as an Australian Government initiative, the SIV program aims to bring investment into the Australian economy, while providing an avenue for migrant investors to come to Australia.

And Life insurance specialist AIA Australia has been named ‘Life Insurance Company of the Year’ at the 10th Annual Australian Insurance Industry Awards – for the second time in as many years.