ClearView Wealth Limited (ClearView, ASX: CVW) today announced the launch of its new WealthFoundations super and pension product and the introduction of a new administration platform.
WealthFoundations has been designed specifically for advisers who need a straightforward and efficient super and pension product for their clients which still lets them build a portfolio to match the different needs of each client.
The new product offers 14 diversified and single sector Investment Portfolio Service (IPS) Strategies, a LifeStages Strategy and a Guaranteed Cash option. Using a Trustee implemented model approach, these strategies provide clients with transparency over where their money is invested and offers advisers administrative efficiencies with active management, regular rebalancing and ongoing monitoring built in. ClearView has maintained their approach to outsource investment management to specialist fund managers in each asset sector.
As another example of ClearView’s innovative approach to product development, every WealthFoundations account includes the Foundation Assurance benefit at no extra cost. This feature can top up a client’s death or Activities of Daily Living (ADL) TPD claim benefit when the actual account balance at time of claim is less than the dollars invested (after allowing for money out such as fees and withdrawals).
Simon Swanson, Managing Director at ClearView, commented “WealthFoundations is targeted at clients with less sophisticated needs. It complements ClearView’s full service wrap product WealthSolutions. Actively managed and competitively priced, WealthFoundations is ideal for people who want to grow their savings for retirement, need a regular retirement income stream or are transitioning to retirement. Throughout the design and development process we sought feedback from advisers and clients to ensure WealthFoundations met their requirements and expectations.”
WealthFoundations also offers seamless integration with ClearView’s market leading LifeSolutions Super life, TPD and income protection range. Clients can nominate WealthFoundations as their premium funding option without the need for annual paperwork.
To support this new product ClearView has selected and implemented a new administration system, Financial Synergy’s Acurity platform. The implementation includes an integrated web front end as well as mobile functionality which will provide straight through processing of transactions completed by clients and advisers online.
Simon Swanson continued, “Acurity was specifically selected as it provided a highly configurable solution to limit the cost of changes and ensure speed to market. A proven administration platform that can grow with us is essential and Financial Synergy was able to demonstrate recent successful implementations and a willingness to work together.”
“We’re keen to help ClearView deliver a range of products and services to clients and advisers while ensuring administrative efficiency,” noted Financial Synergy CEO, Stephen Mackley. “Acurity has always been a robust registry system. Recent developments to provide functionality including mobile access, will assist ClearView to expand and maintain their highly competitive position.”
