Fiduciary Financial Services, the parent company of fintech platform moneyGPS and accountantsGPS, said the partnership would offer moneyGPS’ client-led digital advice proposition to the Lifestyle Asset Management adviser network.
Lifestyle Asset Management is an Australian financial services licensee (AFSL) that provides advice through its network of practices, which includes Wealthy & Wise, Stonewall Capital and Lifestyle Tax & Accounting.
By enabling the AFSL’s advisers with access to moneyGPS’ platform, they will be able to service clients they might otherwise not have been able to due to the high cost of seeking advice.
The platform is designed for the 90 per cent of Australians who cannot afford comprehensive advice, moneyGPS stated. This will enable Lifestyle Asset Management’s network of advisers to improve the accessibility and affordability of advice, with statements of advice (SOAs) starting at under $100.
Commenting on the partnership, George Haramis, Fiduciary’s co-founder and chief executive, said: “We are very excited about the partnership with Wealthy & Wise. Our vision is to meet the broad advice needs of working Australians at every stage of their lives.
“Now Lifestyle Asset Management’s clients can benefit from access to digital advice, a range of financial services, and financial wellness education and resources. MoneyGPS serves Lifestyle Asset Management’s clients wherever they are at, to improve their position and get their financial house in order.”
Scott Heathwood, head of strategic planning at Lifestyle Asset Management, described: “Our relationship with moneyGPS has provided our adviser network with the genuine opportunity to offer what many people with limited financial resources have been after for a long time – access to personal financial advice at a fraction of the traditional costs.
“Having the ability to finally afford personal advice is a significant milestone for every working Australian. Getting your finances sorted with the backing of trusted advisers is a huge bonus and provides comfort to our clients. It helps enormously to take the financial stress out of life.”
Earlier this year, Jason Nyilas, who has more than 35 years of experience across financial services, was appointed as executive adviser at both moneyGPS and HeirWealth. Nyilas was most recently the Australian head of retirement and digital innovation at abrdn, where he focused on working with other industry organisations to provide a fresh and forward-thinking set of solutions across digital, member, adviser and investment funds.
