Customers are wising up to the massive savings available on Aviva's Navigator platform simply by linking their accounts with another member within their self managed super fund or another family member.
Customers are wising up to the massive savings available on Aviva's Navigator platform simply by linking their accounts with another member within their self managed super fund or another family member.
In April this year Aviva provided a simple online method (using n-link) of linking multiple accounts together and treating them as one for pricing purposes, providing the potential for some massive fee reductions. In the subsequent six months nearly 12,000 accounts have been linked online into linked groups, giving significant benefits to customers.
General manager wealth management products, Andrew Barker, said that the impressive take up by customers has validated the market-leading approach.
"Advisers are realising that these discounts now make Navigator the best value platform in the market for many linked scenarios. This combined with our leading tax and shares functionality makes Navigator a great option for SMSF clients. Additionally for advisers looking to encourage greater support and loyalty within the family circle the large level of discounts provides a great incentive. The discounts are particularly effective for our many customers using the Transition to Retirement strategy."
"For example, for a linked group with A$1 million invested, any additional money invested by SMSF members in the linked group is effectively charged at only 0.1% per annum overall."
The savings are at their greatest where there are three or four separate high net worth accounts in the group. For example, four separate accounts in the Navigator Personal Retirement Plan of A$500,000 will each be charged A$4,125 without linking, a total of A$16,500 before adviser remuneration. However with the accounts being linked each account will only be charged A$2,063 giving a 50% saving.
"In some cases it is possible to have savings of over 50%," Andrew said.
"No other platform combines this simple online account linking functionality with the substantial size of the discounts available."
The discounts primarily apply to accounts in the Navigator Personal Retirement Plan and the Navigator Personal Investment Plan.
-ends-
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.
- Aviva is one of the leading providers of life and pensions to Europe with substantial positions in other markets around the world, making it the world's fifth largest insurance group based on gross worldwide premiums at 31 December 2006.
- Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales* of £41.5 billion at 31 December 2006 and assets under management of £377 billion at 30 June 2007.
* Based on life and pensions PVNBP, total investment sales and general insurance and health net written premiums including share of associates' premiums. - The information in this document reflects Aviva Australia Holdings Limited (ABN 38 095 045 784) and its related entities 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.
- NULIS Nominees (Australia) Limited (ABN 80 008 515 633) Registrable Superannuation Entity Licence Number L0000741 is the trustee of the Navigator Personal Retirement Plan Division RSE 1004069.