The complete suite of Challenger annuity products is now available on AMP’s platforms after the two firms agreed to an expanded distribution deal.
All of Challenger's annuity products are now available to advised AMP clients via AMP North, MyNorth, the Flexible Super platforms and SignatureSuper.
The agreement between Challenger and AMP follows the initial deal in October 2016 between the two companies.
Challenger's term annuities, namely the Liquid Lifetime range and the CarePlus products, are also available via AMP.
Challenger chief executive for distribution Richard Howes said, "This is an important step in making Challenger annuities more easily available, as AMPhas Australia’s largest network of financial advisers.
"Challenger annuities provide a layer of stable and secure retirement income to ensure retirees meet their needs through their entire retirement. They support AMP’s approach to goals-based advice for Australia’s retirees."
AMP director of superannuation Vicki Doyle said, "Through our market leading products, platforms and digital channels, AMP’s aim is to help Australians achieve the quality of life in retirement they aspire to.
"Accessibility to these products provides simplicity for advisers and customers, and builds on AMP’s already extensive range of solutions to help our customers achieve their goals."
Several firms have been impacted by the corporate regulator’s action.
Super funds must now have a retirement income strategy in place.
Vanguard has called for a complete overhaul of the advice industry.
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