Plum closes pension gap
Mike Fitzsimons
PlumFinancial Services has launched a pension product for its super clients, re-badging a newly launched product by parent company MLC.
Plum Pension “closes a gap” in Plum’s offer, according to Plum managing director Mike Fitzsimons, by offering clients a “transition to retirement option and a retirement income option”.
“We knew our super members needed to be provided with a pension solution, and (since) our parent MLC had just built one, we’ve logically leveraged this solution for Plum,” Fitzsimons said.
“Plum can now cater to clients’ superannuation and financial advice needs during their entire lifecycle, from the moment they start work with an employer to when they retire.”
Plum-specific investment options on the new product include flexibility in pension payments, fee rebates for transition to retirement members, and a ‘no minimum’ lump sum withdrawal amount.
Recommended for you
A quarter of advisers who commenced on the FAR within the last two years have already switched licensees or practices, adding validity to practice owners’ professional year (PY) concerns.
Integrated wealth and financial services group Rethink has launched a financial planning arm called Rethink Wealth to expand beyond property investing and into holistic wealth management.
While adviser numbers continue to slowly creep back up, the latest Wealth Data analysis reveals they would actually be in the green for the calendar year if it weren’t for so many losses in the limited advice space.
Iress has appointed a chief AI officer to spearhead the fintech’s strategic focus on AI, with chief executive Marcus Price describing how the technology opens the doors to a “new frontier for wealth advice”.
