Platform provider, Federation Alliance, has launched superannuation platform, Federation Super, which joins its investment platform, Federation Managed Accounts.
Federation Alliance chief executive, Alan Kenny, said Federation Super provided superannuation administration that would allow investors and advisers to create an investment strategy to match their retirement goals.
"Federation Super's estate planning features include reversionary and non-lapsing binding death benefit nominations, and it provides access to a selection of insurers for retail individual life insurance policies," Kenny said.
Federation Alliance partnered with Australian Unity to launch Federation Managed Accounts, and platform investors can become shareholders in Federation Alliance.
Federation Alliance has more than $250 million in funds under advice as at 30 April.
Large superannuation accounts may need to find funds outside their accounts or take the extreme step of selling non-liquid assets under the proposed $3 million super tax legislation, according to new analysis from ANU.
Economists have been left scrambling to recalibrate after the Reserve Bank wrong-footed markets on Tuesday, holding the cash rate steady despite widespread expectations of a cut.
A new Roy Morgan report has found retail super funds had the largest increase in customer satisfaction in the last year, but its record-high rating still lags other super categories.
In a sharp rebuke to market expectations, the Reserve Bank held the cash rate steady at 3.85 per cent on Tuesday, defying near-unanimous forecasts of a cut and signalling a more cautious approach to further easing.