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.
Tremelling pops up at RBC
(Pictured: Stephen Tremelling)
Stephen Tremelling, the former head of sales and business development for BNP Paribas Securities Services, has joined RBC Investor & Treasury Services as director of sales and distribution.
Tremelling left BNP last November after 10 years with the firm. His job there has been filled by former consultant, and previously custodian, Ian Perkins.
Prior to joining BNP in 2004, Tremelling spent about nine years at State Street, rising to become vice president of operations.
RBC services fund managers, but not super funds, in Australia. Its largest client is Perpetual Investments, which sold its former big inhouse asset servicing unit, Perpetual Fund Services, to the Canadian company in 2001.
