annual report 2011
annual report 2011
annual report 2011
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IOOF | <strong>annual</strong> <strong>report</strong> <strong>2011</strong><br />
Trustee services<br />
$’m 2010/<strong>2011</strong> 2009/2010 Change on prior year (%)<br />
Revenue 20.8 20.4 1.96%<br />
UNPAT pre amortisation 4.9 4.7 4.26%<br />
Average FUA ($’b) 28.0 30.2 (7.29%)<br />
About the division<br />
The Trustee division includes Estate Planning and corporate trust services, operating under the brand, Australian Executor Trustees.<br />
The team of estate planning lawyers, prepare estate plans, Wills, powers of attorney and manage deceased estates on behalf of their<br />
clients. AET is also a specialist in the provision of personal trusts.<br />
The Corporate Trust team act as custodian for managed investment schemes, trustee or security trustee for securitisation and<br />
structured finance transactions, and trustee for note and other debt issues.<br />
Activities<br />
• In current flat market conditions, Corporate Trust activity remained broadly in line with forecast activity, which was a positive.<br />
The focus during the year has been on process efficiency gains.<br />
• AET Super Solutions was rebranded AET Superannuation and launched a new SMSF offering.<br />
• Private Client was also rebranded Estates and Trustee Services and adopted a “partnering” strategy which has seen tremendous<br />
growth in compensation trust appointments (now over $200 million).<br />
• The Estate Panning arm also launched a new service, AET National, offering remote access to regional dealer group offices for<br />
estate planning services.<br />
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