Challenger adds annuities to Netwealth

Investment management firm Challenger has announced its range of annuities is available via Netwealth, expanding the firm’s distribution network.

The available range will include fixed term and lifetime annuities, including its CarePlus annuity, and will provide advisers with easier access to retirement income solutions for their clients.

They will now be able to quote and apply for an annuity, view policy details and access Challenger’s tools and calculators via the Netwealth platform.

If a client holds a Netwealth account as well, advisers will be able to report and administer annuity policies alongside their Netwealth assets.

Challenger’s chief executive distribution, product and marketing, Angela Murphy, said: “Today’s launch via Netwealth means Challenger annuities are now available on the platforms used by the majority of financial advisers.

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“As we continue to see ongoing disruption in the financial advice market, our focus on expanding our distribution networks via platforms is as important as ever in the current environment. The launch via Netwealth will support the recent growth we have seen in sales by independent financial advisers by ensuring we continue to reach a broad range of advisers with our annuity products.”

Andrew Braun, general manager, marketing at Netwealth, said: “We are excited to work with Challenger on expanding our retirement solutions for advisers and their clients. Our solution gives clients the flexibility to access annuities with or without a Netwealth account.”