Iress welcomes MLC and Praemium on advice platform
Iress has announced that MLC Life Insurance and Praemium have signed memorandums of understanding (MOU) to collaborate on the firm’s Connectivity Network.
The two firms would contribute to the design and creation of the network, which was launched in November 2022 to streamline the advice execution process by connecting insurance providers with advice software.
MLC and Praemium were the third and fourth partners to sign a MOU on the project, following Colonial First State (CFS) and MetLife Australia who signed MOUs when the network first launched.
Geoff Rogers, Iress’ commercial director of investment infrastructure, said: “We’re pleased to continue growing the Connectivity Network with the support of MLC Life Insurance and Praemium”.
The new partners would see collaboration on Xplan Affinity, the software which would connect users with new platforms.
“Adding MLC Life Insurance and Praemium to the Connectivity Network will support the delivery of efficiencies to a broader group of advisers and ultimately help decrease the cost of providing financial advice,” he added.
Michael Rogers, MLC’s chief individual insurance officer, commented that the firm was “delighted to join the Connectivity Network and to play a leading role in collaborating on the future of advice execution”.
He continued: “We know the importance of creating fast and efficient processes to ensure advisers can serve, and ultimately protect, more Australians, more easily”.
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Jasmine Siljic
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