Advisers rank Macquarie number one
Neil Roderick
Macquarie Financial ServicesGroup has secured prime positioning across the platform and funds management categories of the 2007 Wealth Insights/Assirt Annual Service Level Survey, providing the best service in the eyes of financial advisers.
Based on the opinions of 900 advisers, the survey has revealed Macquarie Wrap is the best platform in terms of service, while Macquarie Adviser Services ranks as the number one fund manager.
The independent survey asked advisers to rate 16 of the most popular platforms and 17 of the most popular fund managers on more than 30 different service features.
Following behind Macquarie in the platform category was Asgard Elements in second place, with Asgard eWrap and Colonial FirstChoice in equal third.
In second and third position of the fund manager rankings were AMP Capital Investors and Colonial First State, respectively.
Speaking on the results, Macquarie Adviser Services executive director and head Neil Roderick attributed Macquarie’s success to its client responsiveness.
“We continue actively listening to what our clients want and as part of that we conduct research and focus groups every year to get specific feedback on our service levels and how we can keep on improving them, and then we invest a lot of money in doing that,” he said.
“[The survey results] demonstrate to me that you can still be very big and lead in service — often there is a perception you can only lead in service if you are small and nimble, [but] Macquarie Adviser Services manages over $43 billion worth of monies, the majority of which is in cash and wrap, which shows you can be big and good at customer service.”
According to St George group executive, wealth, Geoff Lloyd, consistency of service is the driving force behind Asgard’s success, highlighted by the fact the platform provider has ranked in the top three of the survey’s platform category since 2002, including the number one position in both 2005 and 2006.
“Our goal is consistency when it comes to service — not just trying to be number one every year,” he said.
Wealth Insights managing director Vanessa McMahon told Money Management that as well as identifying the top players in the industry, the survey also highlighted specific aspects of platform service that advisers consider to be most important, such as a comprehensive managed fund menu, accurate reporting, value for money and the ability to resolve errors quickly.
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
