Challenger gets court approval on Metlife transaction
Challenger has finally completed the transaction that sees it acquire Metlife’s annuity, allocated pension and personal superannuation liabilities.
Challenger issued an announcement on the Australian Stock Exchange this morning that it had received Federal Court approval for the transfer of the liabilities associated with the Metlife products.
It said the transfer would occur at the close of business on August 31.
The transaction flows from an agreement reached between the two companies in February.
Recommended for you
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.
As the government announces a public inquiry into the collapse of Dixon Advisory, risk adviser Richard Silberman has detailed the three areas that typically lead to an AFSL's collapse.