FSP platform cracks $1 billion
The FSP Portfolio Services platform, Portfolio Services Wrap, has passed the $1 billion mark in funds under administration (FUA) 18 months earlier than its management had forecast.
“It certainly happened a lot quicker than I thought it would. I think it reflects the strength of working in partnership with advisers, and both of us being focused on delivering good outcomes for clients,” FSP Portfolio Services chief executive Robert Swil said.
The achievement means the platform has doubled its FUA over the past two years and tripled it in terms of a three-year timeframe.
The platform consists of two main elements, a superannuation fund and an investor directed portfolio service, with 80 per cent of the offering’s fund flows coming through the superannuation segment.
FSP has now set itself the task of doubling the platform’s FUA again in less than two years.
To facilitate this growth, FSP will implement additional adviser support and marketing facilities throughout the coming year.
“The additional support will come in the form of ongoing training to help advisers and their support staff,” Swil explained.
“We have a group of advisers that make up a platform committee and that is involved in helping map out future product development, and we’re going to continue with that because it has worked fantastically for us,” he added.
According to Swil, the improved marketing facilities will work along the lines of helping advisers develop different strategies for their clients, such as those addressing the changes to the superannuation contribution and tax environment currently being faced by consumers.
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
