BT Financial Group gets MySuper sign-off
BT Financial Group announced this week that it had received Australian Prudential Regulation Authority (APRA) approval for its MySuper licences and would launch actively-managed "lifestage" funds as its MySuper solution.
It said its use of "lifestage funds" meant that asset allocations automatically changed to be more conservative as a person neared retirement age.
The company said it had received MySuper approvals with respect to:
- BT Super for Life
- BT Lifetime Super - Employer Plan
- BT Business Super
- Asgard Employee Super Account
BT Financial Group's general manager of superannuation, Deanne Stewart, said the company was well-placed under the MySuper regime as a result of its strong history actively managing lifestage funds.
BT Financial Group's MySuper products will be available from 1 October 2013.
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.