Lonsec and Milliman partner on retirement advice
Research house Lonsec has joined with actuarial consulting firm Milliman to launch a new service aimed at the Australian retirement income market.
The two companies earlier this week jointly announced that they would combined Lonsec's portfolio construction processes and its established relationships with Milliman's expertise and actuarial rigour to provide retirement advice to institutions.
"Together, Lonsec and Milliman will provide extensive insight, as well as a solution-set that is closely aligned to the challenges facing Australian advisers in a post-Future of Financial Advice environment, and which also meets the needs of superannuation funds and institutions," Milliman's Australian financial risk management practice leader, Wade Matterson, said.
The two companies said their announcement followed on from last year's joint release of a white paper contending that the current financial advice model serving retirees is sub-optimal.
The announcement said the white paper, entitled ‘Boomers, Herding, Denial and Zeitgeist: Who will be First to Grasp the Post-Retirement Advice Opportunity?', challenged some commonly-used approaches to managing post-retirement portfolios.
It said the white paper also provided insight into the direction in which Lonsec and Milliman believed the advice process and the portfolio construction approach should be heading.
Recommended for you
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
As advisers seek greater insights into FSCP determinations, what are the various options considered by the panel and can a decision be appealed?
Amid the current financial adviser shortage, advice firm Link Wealth is looking to expand its financial literacy program for high school students across the country.
TAL Risk Academy has updated its range of ethics courses to help financial advisers meet their CPD requirements following adviser feedback, including interpreting FSCP determinations.
