What happens next? 

CBA believes that quality financial advice plays an important role in helping Australians improve their financial wellbeing, and CFP will continue to offer financial planning services to customers. 

When it launches in the final quarter of 2021, AIA Financial Wellbeing will be able to advise a number of CommBank customers on their life insurance and simple wealth needs across a range of financial solutions from different providers. Visit AIA Financial Wellbeing for more information about their services and our partnership.

FAQs

Who is AIA? 

In addition to its new advice business, AIA is an Australian life and health insurer and investments business, protecting the needs of more than 3.8 million Australians. AIA is part of the AIA Group, which spans 18 countries across Asia-Pacific.

For customers who have had previous advice with CBA – I need to get advice urgently. Who can I speak with to get this done?

If you’ve not spoken with your CBA financial planner recently and have an urgent need for advice we encourage you to contact them as soon as possible to discuss your particular situation.

Alternatively, you can visit ASIC’s MoneySmart website resources and search ‘Choosing a Financial Planner’. This includes useful information to help you navigate the financial planning process and find the right planner for you.

I’m a CFP customer and haven’t been told I will be transferred to AIA – what do I do if I need financial advice now?

CFP will continue to offer financial planning services to existing CFP customers, so please get in touch with your financial planner to make an appointment or call us on 1800 138 713

I’m a CFP customer and have been told I will be moved to AIA – is there anything I need to do?

You don’t need to do anything. Rest assured you will be closely supported with a smooth transition to AIA to help manage your ongoing financial planning needs.

If you don’t want to receive financial planning services from AIA, please let us know within two weeks by calling 1800 247 407. If we don’t hear from you within two weeks, we’ll pass on your details to AIA so you can continue receiving financial planning services from AIA.

CFP will be unable to provide you with financial planning services after 30 November 2021.

If you decide not to proceed with AIA’s services but would still like financial advice, you can visit ASIC’s MoneySmart website resources. This includes useful information to help you find the right financial planner for your needs. 

Can I move my advice relationship to wherever my financial planner goes?

You are always free to move your financial advice relationship where you prefer.

CFP is contacting customers about how we can help them in future, including transferring to AIA or helping to transfer your business to another financial planner.

What happens to my financial planner? How do I stay in touch with a planner?

While we are unable to confirm this specifically right now, you are more than welcome to reach out to your financial planner at any time to discuss any questions you may have that relate to your financial advice relationship.

If you’ve not spoken with your CBA financial planner recently and have an urgent need for advice, we encourage you to contact them as soon as possible to discuss your particular situation.

Who will assist me with making an insurance claim?

CFP can continue to support you with servicing your previous financial advice, including helping you to make a claim.

If you will be receiving AIA financial planning services from 1 December 2021, AIA will be able to assist you in making a claim. Alternatively, you can contact the product provider directly to make a claim or visit ASIC’s MoneySmart website resources.

Can I opt out of being transferred to AIA?

Yes, it is your decision. If you don’t want to receive financial planning services from AIA, please let us know within two weeks by calling 1800 247 407. If we don’t hear from you within two weeks we’ll pass on your details to AIA so you can continue receiving financial planning services from AIA.

How are you protecting customers’ privacy during the transfer? 

Protecting your personal information is a vital part of our relationship with you. It’s essential that we’re open and honest with you about what CFP and AIA do with this information. 

If you decide to proceed with AIA’s services, the copy of the information we’ll share with AIA will include your name, contact details, date of birth, product details, employment status and other information we’ve received from you in order to provide financial advice. 

If your information includes information about other individuals connected with you, like your dependents, beneficiaries and accountant, this will be included with the information we give to AIA.

AIA will have responsibilities under its privacy policy in relation to the handling of your personal information. To protect your privacy further, AIA may also ask for your consent to access certain personal information when you’re dealing directly with them. 

To learn more about how CommBank and AIA handle your personal information, or to read our respective privacy policies, visit commbank.com.au/privacy and aia.com.au/privacy

How will you share my personal information? 

Your personal information will be shared between CBA and AIA confidentially and securely in accordance with our privacy policies.

Privacy policies that explain how CBA and AIA handle personal and customer information are available at the following links:

How will my personal information security be protected?

We have put arrangements in place to help manage data security in the transition of your details including system access controls, data restriction, training, testing and contractual protections.

Where can you get help?

For more information on these changes, you can call us on 1800 247 407 between 8:00am and 7pm AEST, Monday to Friday.

Our friendly CommBank team are still here to help with all your banking needs. For all banking enquiries, please call 13 2221 between 6am and 10pm.

I am not happy with this decision. Who can I speak with?

If you have a complaint please contact us in the first instance. It's important we hear about it so we can make things right. 

We'll take your feedback seriously, work with you to address your complaint quickly and aim to find a resolution that's fair and reasonable. In doing so, we will uphold the Bank's complaint handling principles each and every time.

You can talk to us online or call us:

Things you should know

This website contains important information or updates about your service.

If you have a complaint about AIA products or services, AIA’s dispute resolution team can be accessed on 131 056.

If you have a complaint about something else, the Bank’s dispute resolution process can be accessed on 13 2221. Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian credit licence 234945.

AIA Australia Limited ABN 79 004 837 861 AFSL 230043 (AIA Australia) and AIA Financial Wellbeing are not part of the CBA Group and CBA does not guarantee and is not responsible for the performance or obligations of AIA Financial Wellbeing or for the performance of products issued by AIA Group or AIA Australia. Links or references to material on external sites are provided for your convenience only and inclusion does not represent endorsement of the external providers.