RBF introduces default option
RBF has introduced a new product default option, RBF MyPath.
According to the company, RBF MyPath applies a lifecycle strategy designed for members who want RBF to utilise its skills and expertise to manage their superannuation investments throughout their different life stages.
It said that over 48,700 RBF members — with funds under management of close to $1.76 billion — transferred to RBF MyPath in March.
Acting Chief Executive Officer Nick Connor said members had been segmented into 10 RBF MyPath groups, or target date funds, based on members' dates of birth in five-year cohorts.
"Each RBF MyPath group follows a glidepath with the investment strategy of the cohorts changing through the lifecycle as the members approach retirement," he said.
"Up until the age of 50, investments will focus on growing member's superannuation wealth. From the age of 50, members' investments will gradually be de-risked until the age of 65, where the investment will shift to a conservative strategy designed to offer more security for members' capital investments as they approach retirement."
Recommended for you
After seven years at the company, Iress’ chief technology officer for wealth management APAC, Anthony Gerrits, has departed as the firm commences a search process to fill the role.
With advice firms thinking about scaling up in 2025, research has detailed the main avenues financial advisers say they have used for successful recruitment.
The board of Insignia Financial has reached a decision regarding the possible acquisition of the firm by US private equity giant Bain Capital.
Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses.
