Allianz Retire+ said the announcement was in response to the government calling for the financial services industry to “meet the increasing demand for more innovative retirement income and longevity solutions”.
The firm added that AGILE is designed to anchor a client’s retirement portfolio while still giving advisers the ability to manage the overall total asset allocation and income buckets for clients.
Allianz Australia Life Insurance chief executive officer Adrian Stewart said: “For the first time ever, advisers will have access to a guaranteed income for life which sits within a client’s superfund account or account-based pension which allows clients to select AGILE as an option within their portfolios.
“With full administration and reporting functionality, advisers will be able to proactively plan for their client’s retirement while still in the accumulation phase, as well as the retirement income phase. Giving advisers greater control of their client’s asset allocation and allowing advisers to accurately model their client’s income for life.”
Mr Stewart added that the addition of AGILE to the HUB24 platform follows months of close work with HUB24 and is a collaboration that the business is “extremely proud of”.
“Minister Jones has continued the government’s focus on Australians having access to retirement income solutions, this integration allows trustees and advisers to deliver better outcomes for Australian retirees,” he said.
Andrew Alcock, managing director of HUB24, said greater innovation in retirement products is vital.
“As more Australians enter retirement, there is increasing demand for innovative products that can provide sustainable retirement income to provide security throughout this phase of their life,” Mr Alcock said.
“By collaborating with Allianz Retire+ to launch AGILE on HUB24, we’re making available a market-leading product that provides advisers the solutions they need to help clients achieve their retirement goals and empower better financial futures for more Australians.”
AGILE also recently received an “Approved” rating from Lonsec Research and a “Recommended” rating from Zenith Investment Partners.
Allianz Retire+ initially announced AGILE in February 2023, calling the product a “next-generation retirement solution” that provides full advice platform integration and can be embedded within super funds and account-based pensions.
“This process took considerable time, but we believe this product sets a new standard for the industry,” Mr Stewart said at the time.
“For the first time, a retirement product allows advisers to integrate retirement solutions into their current ecosystem that deliver outcomes with certainty for the entirety of their client’s life.”
