FIIG Securities review
Summary
Invest in a range of fixed income products and services through FIIG Securities.
Diversify your portfolio by investing in the bond market with an experienced Australian fund manager.
- Get returns of up to 8% p.a. with a high-yield portfolio
- Access 600+ government and corporate bonds
- Invest in local and foreign currencies
- Professional portfolio management
FIIG Securities are a corporate bond trading company geared towards both retail and corporate clients. FIIG aims to give investors direct access to a range of broad range of fixed income product and services.
Our verdict
FIIG Securities is a wholesale and retail bond provider that's prebuilt bond services will suit most types of investors as it takes the hassle out of knowing the bond market. It also has a direct offering aimed at those who want a more hands-on approach to investing and offers strong educational resources to help investors learn about the bond market.
On the downside though, it is exclusively trading fixed assets and FIIG comes with a high minimum deposit. If you are a retail client, you will need a minimum $50,000 available to invest in its products.
Pros
- The option of preset investment portfolios
- Strong research on each bond provided
- Personal portfolio manager
Cons
- High minimum deposits
- Limited to trading bonds and cash
How does it work?
FIIG securities allows you to access the fixed income market through its services.
It has 2 main offerings targeted at both fixed and wholesale investors.
The first one is it allows you to buy direct bonds from the provider. It has a range of around 400 companies which you can choose to invest in.
The second is it has 3 pre-managed funds which you can choose to let it invest for you.
Which services does FIIG offer?
Retail bond portfolio
If you're looking to get into the bond market, FIIG offers a couple of options for retail investors that can help you gain exposure to fixed assets. But keep in mind you'll need to have $50,000 if you want to start investing.
The bond provider will let you invest in its services in 2 main ways:
- Direct bond services. You can gain access to over 400 corporate bonds from some Australia and overseas. Through this option you can invest in the bonds behind some of Australia's most well known companies including Commonwealth Bank and Zip. The provider will help you assemble a portfolio based on your instructions with a focus on yield and maturity. FIIG will also help provide you with the research on each bond to help you make your own decisions.
- Managed income portfolio service. If you would prefer FIIG allows you to invest in one of its 3 preset investment programs and it will create and manage the portfolio on your behalf. There are varying degrees of risk depending on which platform you choose.
Wholesale funds
Similar to its retail offering, you can invest in either direct service or managed income portfolio through FIIG's wholesale fund.
The Wire
As part of its services FIIG helps educate the public about the bond market.
You can sign up for free to its "The Wire" newsletter which breaks down the current bond market, as well as some tips and tricks to trading it.
Is FIIG safe for beginners?
Bonds are generally considered a lower-risk option, although it varies depending on what you invest in.
Bonds are broken down into government or corporate bonds and range from triple A to junk, with the risk profile changing accordingly.
In the case of corporate bonds, they are usually safer than owning the shares. One reason for this is bondholders are paid out before shareholders. As such, you have some protections if the business was to go under.
When it comes to trading bonds with FIIG ensure that you've checked the relative product disclosure statements to see if any of the products are right for you.
Fees
If you sign up with FIIG Securities you'll face a few fees.
Custody service fee
A custody service fee are costs that you pay to a bank or broker in return for them managing your investments.
With FIIG they have 2 custody services fees.
- $20 if you have chosen to have a Macquarie Bank CMA as your FIIG funding account
- $30 if you don't have a Macquarie Bank CMA as your FIIG funding account
Dishonour fee
If you do not have funds in your linked account monthly you are charged a $60 dishonour fee.
In specie transfer fee
You may also be charged an in specie transfer fee up to a maximum of $300. This fee may be payable for anyone who transfers existing securities between FIIG and other providers.
How to open a FIIG account
If you would like to sign up with FIIG you'll have to follow a few basic steps which is pretty similar to signing up for any other trading account:
- Provide your basic information
- Set up your account details including linking to payments system
- Add your personal details to the account and verify them
- Review your information
- Submit it
Your reviews
Cameron Finder
Writer
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