BT Financial Group‟s Head of Superannuation, Melanie Evans, said that while the demand for BT Super for Life was pleasing, the $1billion milestone was more a celebration of the savings members are making by taking advantage of the low-cost super solution.

“For every billion dollars that sits in BT Super for Life and not in more expensive super funds, our customers save more than $10million in fees, every year,” she said.

“And while they‟re paying less in fees, they‟re enjoying award-winning features including seamless integration with their online banking, default investment options linked to their age and risk profile and no commissions.

“Combine low fees with above-median investment performance and you‟ve got more money ending up in the hip pocket of working Australians, which is exactly where it should be.”
BT Super for Life launched in late 2007 and, to this day, remains a market-leading solution and the first and only product that allows investors to see and manage all their banking and super needs online in the one place.

“By putting super alongside customers‟ savings accounts, credit card and mortgage we are helping facilitate what many thought was the impossible – making superannuation an everyday conversation in hundreds of bank branches across the country,” Ms Evans said.

“So when they log onto internet banking at home or work and see their super balance they‟re much more engaged in one of their most important assets, compared to just receiving a statement in the mail once a year.”

Ms Evans added that BT identified the need for a simple super solution three years ago, long before the GFC had its impact and the current wave of regulatory reform was initiated.

“The birth of BT Super for Life wasn‟t in response to industry or competitor pressure; instead it was about solving the problem of the average working Australian‟s disengagement with their retirement savings.

“With more than $13 billion in lost super across the industry, BT Super for Life has shown that, for many, the answer is about making super as easy as online banking and having conversations in branch about getting their super sorted so they can save for the retirement they deserve.”

About BT Super for Life:

• The first and only integrated super fund that allows you to see and manage your super alongside your internet banking
• Default investment options called „Lifestage Funds‟ that take the complexity out of investment portfolio selection and automatically balances the mix of investments to suit our customer‟s changing risk profile as they near retirement age
• No hidden fees or commissions, no establishment fees, no contribution fees, no withdrawal fees, no switching fees and no termination fees
• Low management fee of 0.99 per cent pa, flat $5 administration fee per month, 47 per cent cheaper than the average retail super fund
• Easy online application process means customers can open an account in as little as ten minutes, top up their super from their bank account at the click of a button and for those in retirement, make withdrawals at any time they like
• An integrated insurance offer with no embedded commissions and ‘no questions asked’ cover

www.btsuperforlife.com.au

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Kelly Power, National Product Manager for Asgard, said this has been a highly anticipated product development and launches their exciting three-year equities roadmap.

“What this solution delivers is less paperwork for the adviser and their client, easy management of share opportunities and more control of their client’s corporate actions,” Kelly said.

“Asgard will streamline the administration of the adviser’s client’s shares by becoming the custodian of the shares and managing the share registry paperwork, while the client remains the beneficial owner.

“It will allow advisers to demonstrate their full value by moving their client’s shares onto the platform with their other investments and to offer advice inclusive of shares and Exchange Traded Funds (ETFs).

“It creates major adviser efficiencies and significantly reduces the share paperwork burden for advisers, their staff and their clients.”

Kelly said the rapid growth in ETFs and the fact shares remain the preferred vehicle for HNW investors meant it was crucial to have shares on a platform.

“Having shares on platform offers superior visibility, allows advisers to fully participate in the growth of SMSFs and helps with managing compliance and keeping general affairs in order,” she said.

“As well, the corporate actions solution allows advisers to easily view those that are open as well as recently closed, has simple click through to see all clients eligible to participate. It also has bulk election capability, reminder emails and simple downloads for offer documents.

“By giving advisers the ability to manage their client’s corporate actions online, they can spend more time with their clients and in building their businesses.

“Importantly, the custodial shares and corporate actions solution results in a fully automated and flexible all-online solution for eWRAP Investment and is tightly integrated with AdviserNET.”

Kelly said the Asgard team was looking forward to the next phases of their equities roadmap which included extending the shares capability with templating and bulk trading.

How a custodial shares account operates:

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