Centuria launches Centuria LifeGoals – an investment vehicle for the new landscape

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Centuria Life, part of specialist investment manager Centuria Capital Group (Centuria, ASX: CNI), has announced the launch of a new investment bonds offering, Centuria LifeGoals.

The new product offers:

  • 22 high quality fund options – including sector, diversified, and index funds – managed by rigorously selected investment managers
  • A transparent fee structure, with rebates passed on to the investor
  • Greater control, with a simple online application process and easy in-app management
  • A simple, flexible and tax-effective investment solution that aims to grow accessible wealth for investors

Michael Blake, Head of Centuria Life, said: “The first guiding principle of Centuria LifeGoals is to offer high-quality, complementary funds which have been carefully selected by our investment committee.”

Mr Blake believes the benefits and control of the new investment bonds products will see them experience a resurgence in popularity.

“The current climate means more demand than ever for transparent financial products that are sold on merit, and that place control and clarity in the hands of the investor and the adviser. Centuria LifeGoals does exactly that,” Mr Blake said.

John McBain, Centuria Group Chief Executive Officer, said: “Centuria has always taken an investor-first approach – we know what matters most to our investors and we look after their interests as if they were our own. We put investors first and, in our experience, everything else follows.

“Centuria LifeGoals was built on this philosophy and is well-suited to advisers and investors looking for true competitive value.”

An industry facing change

The Australian financial services industry currently faces significant structural change, with many financial planners seeking to re-position themselves to best service their clients and many organisations looking to exit wealth management.

This shift, which has already occurred overseas, has gained momentum in Australia following revelations from the present Commissioner Hayne’s enquiry (more of which may soon come in the Royal Commission’s final report).

Mr Blake said “We are entering a new generation of financial services in Australia: various developments have created an environment where Australians are going to be more discerning customers than ever, looking extremely closely at existing and proposed financial products. We welcome the scrutiny – with Centuria LifeGoals, what you see is what you get.

“There are thousands of financial advisers in this country who care deeply about their clients’ wellbeing – I have witnessed this firsthand, and I believe they too welcome the changes that are already occurring.”

In addition, while previously Australian investors were encouraged to maximise superannuation contributions and could access superannuation funds at 55 years of age, recent changes have placed restrictions on contributions and fund balances, and changed age thresholds. These, alongside the potential for future changes, mean superannuation by itself is no longer a sure bet for investors to rely on.

By contrast, investment bonds give investors access to a sound, long-term investment with a structure that offers tax benefits, flexibility and accessibility.

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