On 14 June 2017, our parent company IOOF announced the acquisition of National Australia Trustees Limited (NATL) which has since been renamed AET Services Limited.
We are now pleased to announce that a determination has been made by the Australian Securities and Investments Commission (ASIC) in relation to the personal trust business currently conducted by AET Services Limited. From July 6 2018, AET Services Limited will transfer to Australian Executor Trustees Limited. This will complete the acquisition process.
The decision to acquire National Australia Trustees demonstrates IOOF’s commitment and belief that all Australians should have access to professional trustee services as part of their wealth planning. Following the transfer, Australian Executor Trustees will become one of Australia’s largest compensation trust providers and will have a bigger presence on the east and west coasts of Australia. Our increased scale will help us to offer a wider range of flexible and unbundled trustee services that meet the changing needs of financial advisers and their clients.
How will these changes affect you?
There will be no change in how business will be conducted and there is nothing you need to do. Any documentation that appoints NATL as an executor, trustee, attorney, financial manager or in any other fiduciary capacity will remain valid.
For more information please contact your AET representative on 1800 882 218