Navigator, one of Australia’s leading portfolio administration services today announced the launch of its second private label, in partnership with Diversified Portfolio Management (DPM).
Navigator, one of Australia’s leading portfolio administration services today announced the launch of its second private label, in partnership with Diversified Portfolio Management (DPM). DPM has in excess of $10 million under administration.
The launch of DPM is hot on the heels of PremiumChoice, the first private label administered by Navigator, which has reached $90 million in funds under administration.
The relationship sees Navigator provide the administration and platform function while the client offer is branded and distributed by DPM.
DPM specialises in business support services for selected independently owned dealer groups and will now offer its dealer groups access to a state-of-the-art administration platform.
DPM’s David Williams, said that DPM was looking forward to working with Navigator and accessing the benefits of their pre-eminent position in the provision of administration services.
“We provide a number of unique offers for our dealer groups and specialise in creating strong relationships with them. This includes an equity proposal, buyer of last resort offer and business development support, including compliance, PI insurance, marketing and succession planning. The administration component is now an attractive addition to our service,” said David.
Navigator is currently ranked in the top five master trusts in Australia with more than $8 billion in funds under administration. DPM and Navigator have complementary business strategies, which have provided a solid base for an ongoing relationship.
According to Allan Griffiths, Group Director Distribution, Navigator’s work with private labels was only one part of the long term business strategy.
“Navigator’s business is continually growing and developing and this relationship with DPM is an extension of this,” said Allan.
“Over the past year, there has been significant investment made into the Navigator platform, which positions us very positively in the market. We are now able to launch a number of complementary partnerships with smaller organisations who are looking for a private label, further growing the depth and breadth of our offering.”
Allan Griffiths is available for interview on 0419 307 319.
For further information, please contact:
Simon Morgan
Group General Manager Public Affairs
(03) 9829 8892
0407 966 632
Note to editors:
Norwich Union Australia is a group of three specialist financial services companies; Navigator, Norwich Union Life and Portfolio Partners. Through these companies we provide products and services in the areas of wealth creation, wealth management and wealth protection for more than 300,000 customers throughout Australia.
Globally, Norwich Union Australia is part of Aviva plc, the world’s seventh largest insurance group, the largest insurer in the UK and one of the top five life companies in Europe. Aviva was formed in May 2000 through the global merger of CGU plc and Norwich Union plc.
Aviva’s principal business activities are long-term savings, funds management and general insurance. It has a market capitalisation of approximately A$32.19 billion at 30/09/02, worldwide premium and investment sales of more than A$80 billion from ongoing business and more than A$572 billion in assets under management. The group has 64,000 employees and more than 25 million customers.
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