Victorian-based financial planning firm CIS Financial Services has landed its biggest single client account following Asgard’s recent successful tender to provide its services to technology group Al-catel’s six superannuation funds.
Victorian-based financial planning firm CIS Financial Services has landed its biggest single client account following Asgard’s recent successful tender to provide its services to technology group Al-catel’s six superannuation funds.
The deal gives CIS access to up to 1300 Alcatel superannuation fund members. CIS has focussed its financial planning business on the cor-porate superannuation market.
CIS director Rex Claringbold says the deal will bring the number of CIS clients to “around 5000”.
Claringbold says his firm was approached by Asgard for the tender due to a similarity in cultures between the two groups. General manager of Asgard group employee services George Haramis supports this view.
Haramis also says that CIS is “one of the biggest advisory groups who use Asgard”, making them a logical choice to tender, despite Asgard’s parent company Sealcorp having inhouse planning groups Securitor, Pact and St George Financial Planning.
The deal could prove even more lucrative for CIS, with Haramis saying the mandate is the first of many in the corporate superannuation mar-ket for the master trust giant.
“While we’ve been in the corporate market for a short time, we’ve proved we can provide the services to this market and also can offer add-on services such as advisory services, training services and a good technology platform,” Haramis says.
CIS is also moving to make a dent in the corporate super market, says Claringbold.
“Since we started in 1978, we have been focussed on this market, thought the Alcatel account is our largest. This is a strategic win for CIS and we’re really pleased with the experience this mandate will give us in managing such a large corporate client.”
