Challenger and HUB24 have announced that the former’s annuities should be available to advisers and clients on the platform by the 2019 financial year.
The two companies said that the annuities would be available via ConnectHUB technology, which was a collaboration between HUB24 and its subsidiary, Agility Applications.
The move would add to Challenger’s three-year history of making its annuities available on superannuation investment and administration platforms. By the end of 2018, the firm anticipated that its annuities would be available on platforms used by two thirds of financial advisers.
Challenger chief executive, Brian Benari, said the move onto HUB24 showed that income products such as annuities were growing in importance.
“HUB24 is one of the fastest growing platforms in the market and is recognised for its innovation and customer-focused approach,” he said.
“This is a further demonstration of how superannuation industry leaders are moving to meet the needs of retirees as lifetime income stream products become an increasingly important option in retirement.”