Groups form Axis around retirees
A joint venture between three Tasmanian financial services firms — Quadrant Superannuation, Connect Financial Planning and Perpetual Trustees Tasmania - has seen the launch of a retirement fund for Tasmanians, Axis Retirement Solutions.
The fund is aimed to fill the growing demand among Tasmanian retirees for regular pension payments as well as continually growing interest flexible financial services, says Axis chairman Stewart Wardlaw.
“Statistics reveal a trend towards pension payments — in fact between 2000 and 2001, the Australian Prudential Regulation Authority recorded a 26.7 per cent increase in benefits paid as pensions in Australia,” he says.
The fund has already attracted more than 500 retirees and has almost $10 million in assets. It currently comprises a superannuation fund and allocated pension fund which both offer a choice of investment options.
The choices for the superannuation option are cash, capital stable, balanced, growth and equities, while for the allocated pension the fund offers the same but without the ability to invest in equities.
“Our aim to provide service that’s easy to use and compatible and complementary with other products offered by Quadrant Superannuation, Connect and Perpetual Trustees,” Wardlaw says.
Recommended for you
The financial services technology firm has officially launched its digital advice and education solution for superannuation funds and other industry players.
The ETF provider has flagged a number of developments as it formally enters the superannuation space through a major acquisition.
While all MySuper products successfully passed the latest performance test, trustee-directed products encountered difficulties.
Iress has appointed Insignia Financial’s former general manager of master trust and insurance products as its newest CEO of superannuation, who will take over from Paul Giles.
