The Westpac financial planning network is to get a $500,000 marketing boost from the bank as it seeks to leverage off the recent changes to the superannuation system.
According to Kate McCallum, Westpac Financial Planning head of advice offer and design, the bank has scheduled a nationwide advertising campaign targeting 50-65-year olds with more than $50,000 in super. She said the campaign would be the first extensive push of the bank’s financial planning chain to consumers “for some time” and would focus on the changes to superannuation heralded in this year’s federal budget. “We believe this target group needs to know how to make the most of the proposed Budget 2006 changes as they may need to rethink their plans in light of the changes,” McCallum said in a statement.
AustralianSuper’s appointment of a general manager, retirement to replace Shawn Blackmore, which follows ART's redeployment of Kathy Vincent to chief operating officer, shows that mega funds are back-pedalling on the strategy of having dedicated retirement C-suite executives. The role had been touted as the next big thing in super funds' organisational structures, but experts say what matters is there is senior accountability for decumulation.
Darcy SongDecember 4, 2024
