From 1 December, Aviva will enable advisers to transfer their clients’ investments from Navigator Access to its full featured platform without triggering capital gains tax.
From 1 December, Aviva will enable advisers to transfer their clients’ investments from Navigator Access to its full featured platform without triggering capital gains tax.
It follows overwhelming demand for this change in the recent Investment Trends 2006 Planner Technology Report, which asked advisers to name the changes they would most like to see made to low cost platforms.
Tim Cobb, Aviva's general manager marketing and public relations, said: “More Australian financial advisers asked for CGT free transition than any other feature with over 40% of advisers placing the change in their top three.
“Advisers are clearly saying that a mini-wrap is great – provided clients can migrate to the full platform later if they need to. Access investors can now move their funds across to the broader Navigator platform without any cost penalties or tax implications and they can remain fully invested throughout the process,” he said.
No other simply priced mini-wrap offers this facility – which is remarkable given the demand for it and the tax implications. Navigator now offers the only fully integrated mini-wrap/full service platform proposition.
“The change reflects the fact that the needs of investors change with their age and life circumstances and, as the funds they have invested grow, many people see the need for greater choice and service.”
Investors in both products – Navigator Access Investment and Navigator Access Super and Pension – will be able to smoothly move their funds to the Navigator Personal Investment Plan or the Navigator Personal Retirement Plan as their needs change.
Launched in August last year, Navigator Access is Aviva’s simplified investment portfolio service. It was designed around feedback from financial advisers to ensure the product really suited what their clients were looking for.
“The beauty of this product is that it suits many different types of clients. Ranging from young people looking to contribute regular affordable amounts and investors looking to build wealth using margin lending, to retirees who don't need all the bells and whistles of a full service but want the benefits of managed funds," Tim said.
More importantly, it provides financial advisers with significant flexibility to create wealth solutions for the long term needs of their clients.
“Investors, and their advisers, have welcomed Access as the ideal solution for someone who wants to invest their money with the best fund managers but who does not have the time or inclination to use all of the facilities of a full-scale administration platform,” he said.
For further information on Navigator Access contact a financial adviser.
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For further information please contact:
Tim Cobb
General Manager Marketing and Public Relations
Phone: (03) 9829 8509
Mobile: 0418 529 387
Notes to editors:
- Aviva Australia is a group of two specialist financial services companies: Navigator and Norwich Union Life Australia Ltd. Portfolio Partners is the Australian funds management arm of Aviva plc. Through these companies we provide products and services in the areas of wealth creation and wealth protection for more than 300,000 customers throughout Australia.
- Globally, Aviva Australia is part of Aviva plc, the world’s fifth-largest insurance group, the UK’s largest insurance services provider (based on gross worldwide premiums at 31 December 2005), and one of the leading providers of life and pension products to Europe, with substantial positions in other markets around the world.
- Aviva’s principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of A$82.3 billion (Ł35 billion) and assets under management of A$745 billion (Ł317 billion) at 31 December 2005.
- The information in this document reflects Aviva Australia Holdings Limited (ABN 38 095 045 784) understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way. The information given in this document is of a general nature and has not taken into account the investment objectives, financial situation or particular needs of any particular person and it is not a substitute for professional advice. Applications to invest in a financial product issued by Aviva, or any of its related entities, must be made by completing the application form attached to the applicable Product Disclosure Statement ("PDS"). A PDS is available from Aviva or your financial adviser. Before making an investment decision on the basis of the information above, a prospective investor needs to consider, with or without the assistance of a professional adviser whether the information is appropriate in the light of their particular investment needs, objectives and financial circumstances. Aviva does not receive any remuneration in relation to the provision of information available from this press release which is of a general nature only.