When we look back at 2010, it could be called the year of reviews. We have seen the release of a wide variety of reviews and inquiries that have been the catalyst for much debate about the future of the industry. The resulting discussion has been at a number of levels. They have focused on the interaction between advisers and their clients, platforms and dealer groups, and platforms and fund managers. These potential changes have been factored into our product development process for a while and our products are either fully compliant with the proposed changes or soon will be. We believe that our most important task is to assist dealer groups and their advisers that use our products in this time of significant change.
2010 has been a very busy year for the Product team at IOOF. We have made important improvements to our platforms, such as adding to investment menus, improving the re-investment process for term deposits and making changes to insurance terms and conditions. Insurance remains a key focus for us and over the year we have made significant improvements to the AALs accessible through our products. We are currently working with our insurer to improve premiums applicable to members.
The major focus across a large part of IOOF has been the rationalisation and integration of a number of platforms and trusts that we operate. The benefit of this work is that it makes it simpler to introduce improvements to a more streamlined set of products. Over the next year, we are looking to introduce retail insurance, improve the investment menu, enhance the reporting that is available through Portfolio Online and implement a number of changes that will improve your ability to service your clients and manage your business.
There is a long way to go in terms of the regulatory changes that will be debated and then put before parliament in 2011 but rest assured that we are fully involved in the debate and are pushing for outcomes that will benefit you and your clients. We are also ensuring that the improvements we make to our products and their features and functionality will make life easier for you by improving efficiencies and continuing to contribute to the high levels of service that you have come to expect from us.
Kind regards,
Nick Everingham
Head of Product
Viewpoint
Contents
Investment update
Product update
IOOF Foundation news
Practice Management
Technical Strategy: How an SMSF can take advantage of tax rollover relief by rolling over to Pursuit Select Personal Super?
Technical Strategy: 2011: Client strategy opportunities
Product Spotlight: Get more with IOOF WealthBuilder
Performance Data