BTFG names insurers on expanded APL

BT Financial Group advisers will see two insurers added to the BT life insurance approved product list from March, a threefold increase on the current APL.

AIA Australia and TAL products will be available alongside BT Protection Plans, underwritten by Westpac Life from 19 March 2018.

BTFG said the new partnership will include a training and education program for its advisers, including risk awareness to support client relationships.

Training on the products will be available from early March, in addition to the ongoing training it offers through incumbent insurer, Westpac Life.

Late last year BTFG enhanced its off-APL process by offering to respond to advisers selecting a product outside the APL within one working day.

BTFG general manager advice and private wealth, Jane Watts, said including AIA Australia and TAL followed a rigorous selection process that required independent input from Deloitte.

The two insurers met a range of selection criteria such as service and claims experience, technology, quality of product offering and client benefit, she said.

"We are confident these products meet the quality standards we expect and our clients demand. We are committed to ensuring we support our advisers in providing advice that is in the best interests of our clients. All of our advisers will receive training on the new products so they can continue to meet their clients' needs for high quality advice and protection," Watts added.

Last October, the firm consolidated its financial advice and private wealth divisions, resulting in client-facing advice and private wealth businesses working together.

Employees that provide digital and phone-based general advice are now housed in the customer service division under the leadership of chief operating officer Andrew Walker.

The restructure saw Mark Spiers, the general manager of advice, leave the role but staying on as a director of wealth development at BT.

Read more: BTBTFGTALBT Financial GroupAIA AustraliaWestpac LifeJane WattsAndrew WalkerBT Protection PlansMark Spiers
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