Managed portfolios allow focus on strategic advice
Financial advisers who integrate managed portfolios with a comprehensive platform allows them to place a greater focus on providing holistic planning and strategic advice, according to a whitepaper.
Core Data and HUB24’s managed portfolios report found managed portfolios were becoming a key element to building stronger relationships between advisers and their clients.
HUB24 managing director, Andrew Alcock, said managed portfolios provided advisers with a more efficient way to implement their client strategies.
“With managed portfolios, advisers’ clients can also benefit from a flexible, cost-effective investment solution with increased transparency and tax efficiency, as well as sophisticated tools which can predict and optimise clients’ tax positions when switching portfolios,” he said.
“We believe that managed portfolios will continue to transform wealth management in Australia by allowing financial advisers to focus on what they do best.”
The whitepaper said the use of managed portfolios would be a radical step for advice practices and could involve a rethink of an adviser’s value proposition.
“For advisers, the ability to collaborate, outsource, or partly outsource investment management in accordance with a client’s standing instruction can provide new opportunities to reduce or remove some of the burden associated with records of advice,” the paper said.
The paper also noted that from a business continuity perspective, outsourcing the investment function also eliminated many of the concerns over succession planning.
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.
