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12 March 2001
For the first time in Australia up to one million investors can get a total picture of their net wealth through a major new initiative in corporate super launched by MLC and the National today.
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The extension of investor services to the corporate market completes MLC's consumer focused wealth creation solution and leverages MasterKey's consolidated reporting platform.
MLC MasterKey Business Super underpins MLC's strategy to build its presence within the corporate super market by leveraging its vast customer base shared with the National Group.
"The National maintains a strong presence in the business banking market, with over 35% market share, yet only a small proportion of its business banking customers have their superannuation invested with the National. This presents enormous market potential for MLC," MLC Corporate Solutions CEO, Martin Crawford, said.
Through MLC MasterKey Business Super, MLC aims to more than double its penetration of the National's business customer base by 2003.
MLC has demonstrated, despite its massive internal integration effort with the National, that it continues to innovate its external offering, investing more than $25 million to fully cater for the superannuation requirements of employers and their employees.
"MLC MasterKey Business Super is the first in the market to offer a fully integrated solution which meets the needs of advisers, employers, and their employees' total wealth creation using one consolidated platform," Mr Crawford said.
"For the first time, employees can benefit from managing their entire investment portfolio, incorporating their company sponsored superannuation and personal investments, in one location.
"Through the MLC MasterKey Business Super platform, employees can access the breadth of investment services including education, financial planning, online reporting and access to a suite of other value added employee benefits including mortgages, and lending and purchasing services.
"Additionally, MLC MasterKey Business Super relieves employers from the costs and hassles involved with administering staff superannuation investment choice," he said.
MLC MasterKey Business Super allows employers to focus on their core business and spend less time on administration and employee benefits.
A range of IT enhancements using advanced e-commerce technology have been built to support the MLC MasterKey Business Super platform, including MLC SuperEzy, a new Internet based superannuation payment system which automates contribution payments. The program's comprehensive range of education and personal financial planning services also adds value to any employee benefits scheme offered by employers.
MLC is leveraging the highly successful MasterKey platform to offer financial advisers an integrated business model which enables them to efficiently identify, access and sustain a growing share of the corporate market.
"We have created business partnerships with advisers to help them gain effective and low cost access to the corporate market and add value to their business.
"A key component of MLC MasterKey Business Super is MLC's Workplace Financial Planning (WFP) program, designed to help advisers generate new business prospects and conduct financial planning workshops to employees to help build their financial life plan.
"For MLC, this completes the journey from funds manager to a total investment solutions provider," said Mr Crawford.
MLC MasterKey Business Super, will be launched to the market nationwide through a national roadshow commencing March 19. MLC MasterKey Business Super will go live for new business from April 30
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