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ClearView pushes ahead with SFT

The ASX-listed wealth and insurance company will complete the successor fund transfer of its risk-only superannuation products to HUB24, which is scheduled to take effect on October 31.

ClearView will move its clients from its LifeSolutions Super and Super Rollover products to the HUB24 Super Fund, ceasing to be members of the ClearView Retirement Plan.

The trustee will change from ClearView Nominees to Equity Trustee's HTFS Nominees, which was recently appointed by HUB24 to oversee its $7.9 billion super portfolio.

"Your client's insurance policy will continue, with the same insurer, cover and options. ClearView Life Assurance will remain the policy administrator and day-to-day adviser arrangements will continue as normal," ClearView wrote.

LifeSolutions Super holds policies such as accidental death, total and permanent disability (TPD), accidental TPD, income protection and income protection plus, for ClearView Retirement Plan members. Super Rollover enables monies from another complying superannuation fund into the plan.

The diversified financial services firm flagged the move in March, transferring $1 billion of funds administration to HUB24, starting with its WealthSolutions2 and ClearView Managed Portfolios products.

ClearView's WealthFoundations platform remains with ClearView.

Managing director Simon Swanson said at the time that the strategy is an effort to simplify the business.

"This is an exciting strategic partnership for ClearView. We are committed to delivering a high-quality, differentiated wrap-based offer to advisers and clients, with a focus on adviser efficiency, offering choice and value for money," he said.

Read more: HUB24SuperannuationClearView Retirement PlanLifeSolutions SuperSuper RolloverClearView Life AssuranceClearView ManagedClearView NomineesEquity TrusteeHUB24 Super FundLife insuranceSimon SwansonWealthFoundations
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