LifePlan set to provide an end-to-end solution
LifePlan Funds Management is set to provide an end-to-end solution for clients while Australian Unity Investments (AUI) will gain technical skills in the investment bond, funeral bond and education savings plan space following the completion of their merger last month.
LifePlan has typically had to partner up with other organisations as it has lacked a manufacturing capability, according to new LifePlan head Matt Walsh.
“By combining our business model with the Australian Unity business model, we have a complete end-to-end solution,” Walsh said.
The businesses are complementary, “it’s not been a story about two identical companies merging together and shedding just about everything they do that’s duplicated”, Walsh said.
Meanwhile, LifePlan provides the technical skills in the investment bonds, funeral bonds and education savings plan arenas that AUI currently does not have, AUI general manager, retail, Adam Coughlan said. “Even just in the bond space, in talking about after tax returns and tax advantage returns in client’s portfolios,” Coughlan added.
He said AUI plans to build on the expertise that LifePlan has in bringing technical-based products together using its manufacturing capabilities.
“While it’s very early days, we’re looking at doing some product development under the LifePlan banner but using our manufacturing skill,” Coughlan said.
This may include the likes of capital guaranteed products, he said.
AUTHOR
Corrina Jack
Recommended for you
With Fortnum Private Wealth and Professional Financial Services now unified under the Entireti umbrella company, CEO Neil Younger has detailed to Money Management the firm’s new direction and future expansion.
The FAAA has suggested looking offshore for overseas financial advisers to ease the adviser shortage, but are employers willing to take on the burden of workplace visas?
There may be a huge influx of alternatives coming to the market, but timing and access difficulties mean advisers can easily end up disappointed with their selection, according to Morningstar global CIO Dan Kemp.
An NSW individual has pleaded guilty to one criminal charge of providing unlicensed financial services after promoting crypto investments at national seminars.
