AIOFP to launch non-super master trust
The Associationof Independently Owned Financial Planners (AIOFP) is preparing to roll out a non-super master trust offering on the back of the successful launch of its superannuation master trust, the Personal Choice Master Plan.
The Association, which launched the Personal Choice Master Plan last December, is expecting to make the non-super master trust available to its 25 member firms within two months.
The Personal Choice Master Plan, which uses IOOF’s administration platform, has reached close to $80 million in funds under management since its introduction last year.
Personal Choice Master Plan general manager John Lipkiewicz says the fund’s popularity is being credited to the 0.7 per cent standard trial commission it pays to advisers, as well as the equity the association allows its members to take in the platform.
Lipkiewicz says AIOFP will leverage off the success the association has had with Personal Choice within its own membership base to take the platform to a wider audience.
“Now that we have established a solid base, our intention is to move out to a specialised target group — boutiques with their own licence, on a limited basis,” Lipkiewicz says.
As well as the new non-super master trust, Lipkiewicz says AIOFP will also look to develop relationships with other platform providers with a view to launching a range of other investment platforms by the end of this year.
“We have narrowed it down to three platform providers — Oasis, Asgard and Avanteos — and are holding further meetings with them,” he says.
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