Life office Aviva plans to soup up Navigator and turn it into a third generation platform capable of dealing with all advisers’ service providers.
Navigator will become a hub for managed fund, stockbroking, capital protection, life insurance and financial planning software transactions.
Separately managed accounts will be added to the wrap for both non-superannuation and superannuation investments early next year.
Aviva wealth management products general manager Andrew Barker said the tax-optimised, 3G platform would cut back office costs and attract and retain clients.
“If you can channel the bulk of your dealings with the ever-increasing number of providers … through a platform and make as many of these dealings electronic as possible, then you’re well on the way to optimizing your ability to respond to market changes,” Barker said.
Aviva has also improved its electronic adviser support system n-link by allowing direct data feeds through Xplan software enabling straight through processing.
Navigator is already linked to Aviva’s suite of life insurance products Protectionfirst.
Aviva has added an auto re-weighting facility to enables tax efficient portfolio management.
It has also added two new Pre-select Capital Protection funds and the Select Margin Loan to the platform.
Advisers will be able to choose the share broker they use, over the next few months.
This will allow them to consolidate all of their clients’ share holdings onto Navigator and continue to deal with their current share brokers currently.
The change will enable advisers to charge different commission rates on shares, compared with managed funds.
For example, if an adviser wished to consolidate all their clients’ equity holdings onto Navigator, but not to provide advice on those shares, the adviser could dial the commission down to zero, Barker said.
