Australia: A$500m platform for Infocus

Financial planning group Infocus Money Management ("Infocus") today announced it had signed an agreement with Aviva Australia to build a A$500 million "white label" badged product on the Navigator funds administration platform for its national network of advisers.

Managing director of the Sunshine Coast based Infocus, Darren Steinhardt, said the five-year agreement would see his group grow its funds under advice dramatically.

"We are a rapidly growing financial advisory dealership, having been founded in just 1998, and I am confident we will achieve the target level of A$500 million on the platform quickly.

Infocus currently has more than A$900 million in funds under management, which is being administered by 110 staff in our 15 offices and we have plans to expand to 50 sites around the country by the end of 2008.

Under the Portfoliofocus brand, our customers will have access to industry leading flexibility and choice options, in addition to being treated as a unique individual by their adviser who will tailor financial plans specifically to their needs and to cater for the economic environment.

This includes the opportunity to hold direct shares in top 200 listed companies in a superannuation fund, to manage tax efficiently and to fluidly transfer investments within a trust structure to maximise the client's returns in volatile market conditions.

We have built Infocus as a very process oriented company. All our operations are franchised and operate under a system that is about running a business, not a practice. Each Infocus office is designed to perform at the optimal level, not just at the whim of its principal.

"Sometimes we judge our success by the quality of advisers we say 'no' to who want to join our group," Mr Steinhardt said.

It is expected that Infocus will grow to more than 80 advisers over the next 24 months.

Commenting on the agreement with Infocus, Aviva chief operating officer Grant Salmon said he was delighted the two groups had come together.

"Dealerships such as Infocus are the kinds of partners Aviva likes to do business with. They are progressive and customer focussed, so there is a natural fit.

"We are very pleased Darren and his team have recognised the flexibility Navigator will bring to their business. In addition to the end customer's improved position, we have also invested heavily in designing our n-link system to assist advisers move large numbers of clients within their customer base, maintain excellent communication with their clients as well as manage their business efficiently.

"Essentially, Navigator will be providing the branded investment platform for Infocus under the new arrangement, servicing both a Personal Retirement Plan and a Personal Investment Plan. This caters for both super and non-super investments within a highly efficient investment platform structure which offers true straight through processing.

"Going forward, Aviva sees a very strong partnership with Infocus. We have long positioned ourselves as the home of the non-aligned financial advisory group and we don't seek to have control. We want to be partners with the advisers who use our products, not a kind of Big Brother which controls their every decision, as in the case with many of the larger institutions," said Mr Salmon.

Aviva intends to have the Infocus label operating on the Navigator platform by the end of September 2005 where it will join several other "badges" in the A$11.5 billion master trust.

-ends-

For further information please contact:
Darren Steinhardt
Infocus Money Management
Phone: (07) 5443 4311

Simon Morgan
Aviva
Phone: (03) 9829 8892

Notes to editors:

• Globally, Aviva Australia is part of Aviva plc, the world's fifth 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 is a leading provider of life and pensions products to Europe and has substantial businesses elsewhere around the world. Its main activities are long-term savings, fund management and general insurance. It has premium income and investment sales from continuing operations of A$78 billion, and more than A$624 billion of assets under management (as at 1 July 2004). The group has more than 56,000 employees and 30 million customers worldwide. Aviva is a leading provider of life and pensions products to Europe and has substantial businesses elsewhere around the world. Its main activities are long-term savings, fund management and general insurance. It has premium income and investment sales from continuing operations of A$78 billion, and more than A$624 billion of assets under management (as at 1 July 2004). The group has more than 56,000 employees and 30 million customers worldwide.
• The information in this document reflects Norwich Union Life Australia Limited's (NULAL) and NULIS Nominees (Australia) Limited's ('NULIS') 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.