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.
Recommended for you
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
Private market secondaries manager Coller Capital has unveiled a new education platform to improve advisers’ and investors’ understanding of secondaries.
