Navigator to sit behind St Andrews planners
Aviva, the owner of Navigator, has won a tender to supply investment platform services to HBOS’ financial planning arm, St Andrews.
The deal will see St Andrews’ 31 planners across three states use Navigator and the low cost Navigator Access, as well as the platform’s proprietary ‘n-link technology’.
HBOS Australia chief executive John Van Der Wielen said signing the badging deal for Navigator was part of a move to boost the financial planning arm of the bank, and encourage more cross-selling to its 650,000-strong customer base.
“St Andrews will be duplicating the UK model, which is cross-selling insurance and investment products,” he said.
“We will segment the customer base into those who want just a low cost product without advice, and those who want advice and a range of products which they can access through Navigator.”
The advisers are located within HBOS’ Perth-based subsidiary, BankWest, and its recently acquired RACV Financial Services business. Van Der Wielen said the aim is to recruit another 20 advisers this year for the network.
Recommended for you
Insignia Financial has reached a major milestone in completing the separation of MLC Wealth from NAB, having acquired the firm back in 2021.
There could be changes ahead for how ASIC requires licensees to handle conflicts of interest as the corporate regulator announces it will be meeting key stakeholders next year to update guidance.
Proper recordkeeping has been described as the “mortar between the bricks” of the advice process and critical to an FSCP decision as an adviser is suspended for failures in this area.
As investors increasingly seek to embed ESG considerations in their portfolios, a specialist adviser has offered tips for financial planners who may feel overwhelmed in tackling these complex topics with clients.
