Navigator to sit behind St Andrews planners
Aviva, the owner of Navigator, has won a tender to supply investment platform services to HBOS’ financial planning arm, St Andrews.
The deal will see St Andrews’ 31 planners across three states use Navigator and the low cost Navigator Access, as well as the platform’s proprietary ‘n-link technology’.
HBOS Australia chief executive John Van Der Wielen said signing the badging deal for Navigator was part of a move to boost the financial planning arm of the bank, and encourage more cross-selling to its 650,000-strong customer base.
“St Andrews will be duplicating the UK model, which is cross-selling insurance and investment products,” he said.
“We will segment the customer base into those who want just a low cost product without advice, and those who want advice and a range of products which they can access through Navigator.”
The advisers are located within HBOS’ Perth-based subsidiary, BankWest, and its recently acquired RACV Financial Services business. Van Der Wielen said the aim is to recruit another 20 advisers this year for the network.
AUTHOR
Michael Bailey
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