ING responds to adviser feedback on MoneyForLife
ING has ramped up the ratchet frequency in its new MoneyForLife product from biennially to annually.
MoneyForLife is ING's recently launched retirement income product.
ING general manager, retirement and investment solutions, David Kan said since the product's launch last October the group had been consulting with financial advisers on the details of the product.
Kan said the group had "listened to adviser feedback, and in response we've now changed the frequency of the ratchet to annual".
"This means that investors are able to lock in gains more regularly while still being protected from market downturns."
The MoneyForLife funds provide continuing retirement income after an investor's original investments run out.
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
