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
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
