Badged platform for Infocus
Queensland dealer group Infocus Money Management has signed with Aviva Australia to build a $500-million white label product on its Navigator platform.
The launch of the Portfoliofocus badge, which will offer a Personal Retirement Plan and a Personal Investment Plan, is scheduled for September this year.
Infocus managing director Darren Steinhardt said he was confident the platform would “quickly” reach the $500 million funds under administration target.
The dealership currently has $900 million in funds under management, according to Steinhardt, administered by 110 staff in 15 offices around the country.
He said the badge was also part of a plan to grow the number of offices country wide to 50 by 2008 and the number of advisers to 80 within the next two years.
Aviva chief executive officer Grant Salmon said he was “very pleased Darren and his team have recognised the flexibility Navigator will bring to their business.
“In addition to the end customer’s improved position, we have also invested heavily in designing our n-link system to assist advisers move large numbers of clients within their customer base, maintain excellent communication with their clients as well as manage their business efficiently.”
Salmon added Navigator will be providing the branded investment platform for Infocus under the new arrangement, servicing both a Personal Retirement Plan and a Personal Investment Plan.
“This caters for both super and non-super investments within a highly efficient investment platform structure which offers true straight through processing.”
Recommended for you
As private markets garner mainstream attention, a panel of experts believe access to the asset class through managed accounts will become more widely available, providing opportunities for advisers to diversify portfolios.
While retail investors turned to blue-chip stocks last month, according to AUSIEX trading data, September saw advised investors switch into ETFs.
With the intergenerational wealth transfer underway in Australia, wealth managers are focusing on how they can attract the next generation of advisers to service these younger clients.
ASIC wants to expand proceedings against Equity Trustees to seek compensation for members following Macquarie’s agreement to pay $321 million over Shield failings.
