Trialogue

The forgotten advice distribution opportunity

  There is no doubt that there are significant shifts occurring in the advice industry: FASEA will see many advisers leave the industry (though mostly the non-productive ones), the shift in licensing model to ‘independent’ continues unabated and the overlap between accounting and financial advice continues to grow. Amongst all this change, many asset managers […]

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The impending advice gap is dramatically overstated

  There have been many ‘Chicken Little-esque’ predictions that the sky is falling in, that FASEA and the fall-out from the Royal Commission will decimate the number of advisers in the industry, creating a large advice gap and preventing many investors who could benefit from advice from being served. While there is no doubt that […]

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AustralianSuper builds $70m war chest

AustralianSuper builds $70m war chest The last few years have seen AustralianSuper dominate the pensions landscape in Australia, topping the charts in terms of net flows year after year. The fund has never been afraid of making some big decisions (think of the internalisation of investment that has occurred over the last few years) and […]

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Royal Commission quietly decimates advice industry

With quiet fury, Commissioner Hayne handed down his report. His commentary was scathing. The participants in Australia’s financial system (including its regulators) have been taken to task for greed and ineptitude. The recommendations are extensive, 76 in all; but on reading the 10 relating to financial advice and another 9 focussing on superannuation, you could […]

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When is vertical integration OK?

Our industry has grown up relying on vertical integration- a model coming under increasing pressure. The banks are divesting from their wealth businesses, and there are strong views being expressed that the model is no longer fit for purpose, that it should be unwound. Notwithstanding the public flaying of the Royal Commission, such a binary […]

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Platform fees: the new frontier

The way platforms charge clients has been undergoing steady (if not disruptive) change as the large providers have established scale positions and the battle to be an adviser’s ‘lead platform’ has escalated. Most wrap platforms have now incorporated fee caps (setting the administration fee at zero beyond a particular FUM level) and family/account aggregation (combining […]

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Robo-advice: what happens when you peak too early?

About a year ago we published a series of Trialogues titled ‘lots of robo, not much advice’. Back then, despite the hype most robo providers were landing at ‘investment selection advice’ and going no further. It seemed only a few had made the foray into self-directed, strategic personal advice, and even then, none of these […]

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Advisers are happier than ever with platforms

Platforms continue to play a critical role in advisers’ businesses, providing a means to efficiently administer, report on and monitor their clients’ portfolios. However, they can often be taken for granted and undervalued by advisers, sometimes bearing the brunt of criticism partially as the complexity of providing these services is misunderstood. Nevertheless, the latest NMG […]

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Does salaried advice need a new (tied) regulatory model?

Here’s the latest Trialogue – in the traditional format as ever, and there is also a video if that’s how you prefer to consume the content.   In the aftermath of the Royal Commission, best interest duty has been a topic of much discussion.  It’s a really important part of the regulatory construct and instrumental […]

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The firm vs the client: conflicted decision making post-Royal Commission

The Financial Services Royal Commission has created a stir across the country; it’s not often that I overhear conversations about AMP at my local pub, or that my Mum sends me a text asking if her superannuation is ‘safe’. Within the wealth industry there has also been widespread shock.  Some of the things that have […]

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