BT plans to dominate super
BT Financial Group (BTFG) has announced the appointment of Vicki Doyle as head of retail and corporate superannuation.
The appointment is part of BTFG’s strategy to maximise the super opportunity and capture the lion’s share of the super industry.
“Superannuation has been called out as core to the Westpac Group’s strategy, given its critical importance in helping Australian’s prepare for a better retirement and the expected growth in the industry,” general manager of superannuation Deanne Stewart said.
“The super opportunity is a must-win category for our business and a key part of this is delivering to customers in the early accumulation stage through Retail and Corporate Super.”
Doyle will be responsible for the development and the management of business strategy, product, marketing and distribution strategy to help grow funds under management and market share.
Doyle will join BTFG in early 2013 from Suncorp where her most recent role was executive general manager, direct customers.
New life insurance tool
TAL Retail Life has introduced a number of inoovations to its Accelerated Protection life insurance product.
TAL’s system now gives advisers the ability to obtain instant quotes online for existing Accelerated Protection policies.
“As an industry we have let ourselves down for years,” said TAL Retail Life CEO Brett Clark. “An enormous amount of work has taken place at point of sale making it easier for advisers and customers to get cover. However, very little thought has been given as to how to efficiently manage customers after the initial sale as their needs inevitably change.
“We have introduced online functionality that now enables advisers to efficiently quote and manage existing customer policies in real time. The online capability will make it so much easier for advisers to manage their customers’ polices and adjust insurance cover to suit needs over time.”
In another leading offer, TAL’s flagship life insurance product Accelerated Protection now provides level premiums to the age of 70 for life cover, with premiums guaranteed not to increase until then.
New small cap fund launched
Acorn Capital has launched a new Asian small cap strategy, which will invest in small listed companies in Asia (excluding Japan).
Acorn Capital, Australia’s largest microcap investment manager, spent three years researching the Asian small cap market before the launch of the AU Acorn Capital Asia Small Cap Fund.
The fund seeks to exploit inefficiencies in the pricing of small cap stocks in the Asian region, with the aim of outperforming the MSCI AC Asia (ex Japan) Small Cap Index (A$) over rolling five-year periods.
Its investment universe is small companies that fall into the 85th to 99th percentile by market capitalisation in Asia (ex Japan), listed on stock exchanges in China, Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, South Korea, Taiwan and Thailand.
ipac announces plans to integrate Tynan Mackenzie
ipac has announced it will bring Tynan Mackenzie under the ipac brand to provide greater scale and form a stronger more efficient business.
The integration will see the Tynan Mackenzie brand transition out of the market over the course of 2013.
ipac Managing Director Neil Swindells said integrating the Tynan Mackenzie business with ipac would deliver benefits to advisers and clients.
“This decision has been made as part of an ongoing review to ensure we’re providing the best advice proposition for both our advisers and clients,” he said.
“Clients can continue to expect the same high level of service offered by both ipac and Tynan Mackenzie, but with the benefit of increased scale, supported by a strong business model that is well positioned for the future.”
The integration of the two businesses will see it servicing more than 45,000 clients and providing advice on more than $10bn in funds under advice.
Tynan Mackenzie CEO Paul Robertson will remain on the ipac leadership team and will sit on a committee set up to manage the transition of the Tynan Mackenzie business to ipac.
Tynan Mackenzie was wholly acquired by AXA Asia Pacific Holdings in 2006, and became part of the wider AMP group as part of its integration with AXA APH in 2010.
Tynan Mackenzie has 37 employed advisers across NSW, Queensland, Victoria and South Australia, servicing over 4,400 clients.
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