Name change for Austrust
Austrust is to change its name to TOWER Trust as part of a move to bring it in line with its parent Tower Financial Services.
TOWER Trust general manager marketing and business development Peter Cocks says the move will improve the company's image nationally.
"We are now part of a common brand instead of just putting the Tower name in small print under Austrust," he says.
Cocks admits the Austrust name, created a couple of years ago when Elders Trustee and Executor Trustee Australia were merged, has been good for the company in its national expansion. It now has offices all states except Tasmania.
"The Austrust name was right at the time, but people are looking for national branding now," he says.
The company will also keep its heritage promotion because the type of client that uses TOWER Trust is looking for comfort and security.
"We are trying to promote ourselves as the champions of self-reliance by offering good service," Cocks says.
TOWER Trust now has more than $3 billion of funds under management with 60 per cent of revenues coming from outside its home base of South Australia.
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