Insignia platform offers more perks

Yasmine Raso

Senior Journalist, Financial Newswire

15 November 2022

Insignia Financial’s Expand platform offering adviser superannuation, pension and investment wrap products has undergone a brand refresh to offer a new mobile app, lower pricing, greater flexibility for advisers and better investment choices.

The changes also come as the firm renames its products to align more with its Expand offering, with its full wrap product now called Expand Extra and the simplified wrap product formerly known as IOOF Essential is now called Expand Essential.

“We are delighted to announce these exciting enhancements to continue to support advisers through the advice implementation process, manage their business, and improve their clients’ investment outcomes and financial wellbeing,” Cameron Spittle, General Manager Advisory Solutions at Insignia Financial, said.

“We have strong momentum in our transformation journey and will continue to invest in, build, and deliver contemporary product solutions and tools.”

The Expand mobile app allows clients to access the same features available on Expand Online from their smartphone, ranging from checking transactions to visualising their balance and generating investment reports.

The new pricing structure applied to new and existing Expand products sees Expand Essential offering a 0.10 per cent administration fee with a cap of $1,000 and an account fee of $90 a year. Expand Extra caps fees at $1,925, an account fee of $180 per year and the ability to link up to six family accounts.

Insignia Financial has also expanded its investment offering for Expand Extra clients, providing access to more managed investments, most of the listed investments in the S&P All Ordinaries Index, and several NAB term deposits.

MLC Life Insurance is also the latest addition to the retail insurance options on offer for superannuation clients, joining AIA, TAL and Zurich.

“As we consolidate our brands, we’ve taken the opportunity to create a more contemporary look and feel to match the enhanced offer,” Spittle said.

“We are providing a simpler, more modern brand experience for advisers and their clients, built on our market-leading platform.”