Initiatives > Helping Australian investors Activate Idle Money
Why this opportunity matters
Over A$800b is invested in term deposits in Australian banks, with the average term deposit paying 1.90% per annum* and customers with $100,000+ being put through to call centres despite their significant value to banks. Many Australian banks generate significant profits by using their customer's deposits to generate returns, yet the returns for deposit-holders are now almost negligble due to low interest rates.
Mayfair 101 considers there to be a glaring opportunity to provide better rates, better service, and an effective underlying investment strategy with non-bank investment products. Our many customers have told us of their frustrations with banks which has helped shape what we do.
In March 2017 we launched the IPO Wealth Fund, and more recently we launched our investor-facing brand, Mayfair Platinum, attracting over A$250 million of investment in less than 3 years.
This opportunity matters because Australian investors deserve more choice. They deserve better returns, and particularly investors of $100,000+ deserve a customer-centric approach. Mayfair 101 believes a better balance can be struck between those providing money to financial institutions (i.e. deposit-holders) and the returns paid on their money.
Note: We are proud of the fact that Mayfair 101 and Mayfair Platinum is not a bank, does not offer deposit products, and is not covered by the Financial Claims Scheme. As an unlisted, family-owned private company we are not driven by shareholder demands, but by activating opportunities that matter for the benefit for our investors.
Choice - we believe in providing customers with more options
Treatment - we believe in personalised service
Financial - customers have the opportunity to earn higher rates
Lifestyle - many of our customers are enjoying a better lifestyle
Investment - funding in Mayfair Platinum's projects helps us invest in more opportunities that matter