Administrator Australian Administration Services has positioned itself to act as a conduit for the delivery of annuity-type products to its superannuation clients.
The company joined with annuities specialist, Challenger, to form a strategic alliance which will have the effect of making the Challenger product set available on the AAS aaspire platform.
Confirming the alliance on Monday, Challenger chief executive distribution, product and marketing, Paul Rogan, said he believed the alliance would facilitate the provision of guaranteed retirement income solutions to major super funds in Australia.
"AAS has built strong relationships over a long period of time with super funds. The strategic alliance will enable AAS's super fund clients to easily access and implement products to meet the needs of members who want certainty of income in retirement," he said.
AAS chief executive, Suzanne Holden, said the administration business had received expressions for interest from clients in having annuities available on the aaspire platform.
AAS, owned by Link Market Services, recently grew its reach via Link's acquisition of Superpartners and boasts clients which include AustralianSuper, Cbus, REST, HESTA, CareSuper, Hostplus, and MTAA Super.
The Association of Superannuation Funds of Australia has appointed a new director representing industry funds, among a number of other appointments in recent months.
The Association of Superannuation Funds of Australia has tapped an experienced public policy executive as head of policy and advocacy.
The firm has welcomed an experienced financial services executive, who helped establish Vanguard's superannuation business, as its new chief financial officer.
The $8.9 billion fund has tapped a fintech company headquartered in Rotterdam as investment performance consultant.
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