Yellow Brick Road is gearing up to launch a “unique” self-managed super fund (SMSF) product in the New Year.
Speaking to The Adviser, Yellow Brick Road’s executive chairman Mark Bouris said the company was looking to launch a “simple” SMSF product for borrowers.
“I would like to, sooner rather than later, launch a simple starter pack for self-managed super funds,” Mr Bouris said. “It could be as simple as a 50/50 product – which is 50 per cent into an index fund and 50 per cent into a fixed income product. Very simple, low fees – something that is easy to understand so that customers can get comfortable with SMSFs and then move into a more complex product.”
According to Mr Bouris, the product will more than likely come to market in the first quarter of the New Year.
“There is real opportunity in this space,” he said. “People are wary of SMSF products because they believe they are too complex, but the reality is, they are only as complex as you make them.”
The self-managed super fund space is one of Australia’s fastest growing sectors, with more than 800,000 Australians investing around $280 billion of superannuation through an SMSF structure, according to the Australian Taxation Office.