ING Direct will look to expand its low-cost retail superannuation product on the back of strong client support.
The bank's Living Super product will take focus in early 2013 as ING Direct look to expand the products outreach.
"Early in 2013 we will capitalise on the launch of our new superannuation product - Living Super - through direct channels, to expand distribution to our network of accredited advisers," ING Direct executive director Lisa Claes told InvestorDaily.
"The product has already received strong support from the industry and we're confident it will have strong resonance through our planning channel, given the outstanding customer value, control and flexibility the product offers."
ING Direct launched Living Super in September this year to offer a balanced option without administration or management fees.
At the time of the product's launch, ING Direct chief operating officer, Anne Myers, said the idea for Living Super came from existing customers seeking greater control of their superannuation fund.
In October this year, ING Direct also announced it would make changes to its distribution model, to better align with its third party partners.
The move supports the bank's overall approach to the advice industry, as it continues to converge to align with the changes already seen among many key aggregator partners and dealer groups.
ING Direct said the strategy would become further entrenched in its business outlook in the New Year.
"2013 will be about embedding this new structure," Ms Claes said.
"Through our execution we will ensure we maintain a healthy balance between serving both specialist models and those that have adopted a more holistic approach."
