Financial planners look to add value amid volatility
The choppy markets of the last few months have led to a 65 per cent rise in the usage of MLC's volatility toolkit since its launch in August.
The toolkit is aimed at making it easier for advisers to talk to their clients about volatile markets. It includes video presentations, client talking points, templates for client letters (either MLC-aligned or unaligned), client flyers and investment briefings.
MLC Investment Management general manager for product Sam Hallinan said curbing emotionally charged decisions was crucial to preserving clients' portfolios.
"Long-term research shows that investor behaviour either adds or detracts from someone's long-term wealth accumulation, more than the actual investment they are in," Hallinan said.
The current volatility in sharemarkets gives financial planners an excellent opportunity to demonstrate the value of advice to their clients, he added.
The most recent client talking point document (5 October) features short answers to topics such as 'Why has the Australian dollar fallen recently?', and 'If Greece defaults, what does this really mean for me?'.
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.