The ASIC report into death benefit claims revealing the devastating impact of poor industry practices on grieving Australians has again highlighted the pressing need for change. While some funds have taken up the cudgels, others are still playing hardball on improving their service offering.
A Retirement Income Covenant obligation notwithstanding, there is still a paucity of these complex products on offer. The Advice Through Superannuation draft legislation might offer a way forward.
BT fills top sales role
(Pictured: Chris Clayton)
BT Investment Management has filled the role of head of sales and marketing, vacated last year by Martin Franc, with the recruitment of the similarly experienced Chris Clayton from National Australia Bank.
The move was announced last Friday, together with the recruitment of Hayden King from FuturePlus as chief operating officer.
Clayton had been head of asset management, sales, at NAB for just under a year. Prior to that he spent more than six years at Acadian Asset Management building that business as its first full-time Australian representative. He has had other institutional business development roles at Colonial First State stretching back to 2001.
King also spent several years at Colonial First State before his FuturePlus role and also at MLC.
Franc left BTIM, based in Sydney, last August to take up the Melbourne-based role of chief executive at Invesco Ltd. Franc had been associated with BT for much of his career, starting in 1994.Â
