Aviva technology speeds pension account creation
Aviva Australia has launched new online technology it claims will enable advisers to set up pension accounts within 10 minutes and payments for their clients in as little as three days.
This new technology will “revolutionise the set up process for typical transition to retirement strategies, making it simpler and easier than ever before”, according to an Aviva media release.
“Advisers can utilise straight-through-processing to set up pension accounts and submit a full or partial transfer from superannuation to a pension account in 10 minutes.
“In the past, customers of some platforms have waited up to 60 days to start receiving their payments due to difficult set up procedures and manual processing delays.”
The media release added that Aviva’s online superannuation to pension transfer facility will “save countless hours of administration within planning businesses”.
Recommended for you
A quarter of advisers who commenced on the FAR within the last two years have already switched licensees or practices, adding validity to practice owners’ professional year (PY) concerns.
Integrated wealth and financial services group Rethink has launched a financial planning arm called Rethink Wealth to expand beyond property investing and into holistic wealth management.
While adviser numbers continue to slowly creep back up, the latest Wealth Data analysis reveals they would actually be in the green for the calendar year if it weren’t for so many losses in the limited advice space.
Iress has appointed a chief AI officer to spearhead the fintech’s strategic focus on AI, with chief executive Marcus Price describing how the technology opens the doors to a “new frontier for wealth advice”.
