The annuity's inclusion on the FirstChoice platform will enable “stronger satisfaction and longer relationships with clients”, according to Colonial First State's general manager of products and investment, Peter Chun.
“Having a complete suite of retirement products available on the one platform can offer advisers a seamless and immediate gateway to start the conversation about aged care earlier,” he said.
Challenger's chief executive of distribution, research and marketing, Paul Rogan, said the partnership will support advisers to “help their clients deal with the complexity and cost” associated with the move into retirement.
“This is an emotionally charged issue, particularly for the ‘sandwich generation’ – people in their 50s and 60s, who now need to manage not only their own retirement planning but, increasingly, the needs of ageing parents as well,” he said.
CarePlus is the latest of Challenger’s retirement products to be added to the platform, continuing the partnership between the two businesses that began in August 2015.
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