The financial services company said the updated Expand offerings would provide “greater flexibility for advisers and their clients to manage their accounts”.
The full wrap product offering has been renamed Expand Extra, while the simplified wrap product previously known as IOOF Essential has become Expand Essential.
Cameron Spittle, general manager for advisory solutions at Insignia Financial, said that the enhancements have been developed in consultation with advisers.
“We are delighted to announce these exciting enhancements to continue to support advisers through the advice implementation process, manage their business, and improve their clients’ investment outcomes and financial wellbeing,” Mr Spittle said.
“We have strong momentum in our transformation journey and will continue to invest in, build, and deliver contemporary product solutions and tools.”
The new Expand app gives clients access to all the features of Expand Online from their smartphone or tablet, such as checking transactions, reviewing and making changes to their details, and generating account reports.
Expand Essential has a 0.10 per cent administration fee with a cap of $1,000 and a flat account keeping fee of $90 a year. Expand Extra offers a fee cap of $1,925, an account keeping fee of $180 a year and the ability to link up to six family-accounts to take advantage of the fee cap.
Insignia said Expand Extra clients will now have access to more managed investments; most of the listed investments in the S&P All Ordinaries Index; and one, two and 24-month terms for NAB term deposits.
MLC Life Insurance has been added to the retail insurance offer for superannuation clients, to complement the existing panel of AIA, TAL and Zurich.
Mr Spittle added: “As we consolidate our brands, we’ve taken the opportunity to create a more contemporary look and feel to match the enhanced offer.
“We are providing a simpler, more modern brand experience for advisers and their clients, built on our market-leading platform.”
