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Aviva’s Navigator decreases fees through account linking

Aviva's Australian customers have been wising up to the savings available on the company's Navigator platform by linking their accounts with another member within their self managed super fund or another family member.

In April, 2007, Aviva introduced a simple online method of linking multiple accounts together and treating them as one for pricing purposes, providing the potential for some fee reductions. In the subsequent six months, nearly 12,000 accounts have been linked online into linked groups, giving significant benefits to customers.

The best savings can be made when there are three or four separate high net worth accounts in the group. For example, four separate accounts in the Navigator Personal Retirement Plan of A$500,000 will each be charged A$4,125 without linking, a total of A$16,500 before adviser remuneration. However, with the accounts being linked each account will only be charged A$2,063, giving a 50% saving.

Andrew Barker, general manager of wealth management products at Aviva, said: Advisers are realizing that these discounts now make Navigator the best value platform in the market for many linked scenarios. This combined with our leading tax and shares functionality makes Navigator a great option for SMSF clients. Additionally for advisers looking to encourage greater support and loyalty within the family circle the large level of discounts provides a great incentive. The discounts are particularly effective for our many customers using the transition to retirement strategy.