Oasis to tailor products for Financial Planning & Life
Oasis Asset Management has signed a deal with Financial Planning & Life to develop a range of investment products for the Adelaide-based dealer group.
“We are confident that the development of our own range of products will provide real value to our advisers and their clients, as it gives us the opportunity to have direct input into the features of the products we recommend and the fees charged,” Financial Planning & Life managing director Geoff O’Neil said.
While the deal allows the dealer group to help tailor the products it will have on hand for its advisers, O’Neil stipulated that there would be no pressure on them to recommend these products before others to their clients.
He feels Oasis’ experience in product development would be a major boost for his organisation.
“We are also pleased to be associated with Oasis, who have worked closely with us to achieve our objective to develop products that provide both quality and value to our clients. Oasis’ product development experience means the product can be built and in the market quickly, involving minimal business resources interruption to us,” O’Neil said.
Oasis head of market development Bruce Tustin said deals like this are of great benefit to dealer groups, as it allows them to meet both their clients’ investment need as well as their own business needs in terms of business growth and increasing profitability.
“Our clients are seeing significant benefits in terms of margin growth as the FUM [funds under management] in their products grows. This allows them to offer quality and comprehensive services to their advisers, which provides a competitive edge when seeking new recruits,” Tutin said.
Financial Planning & Life joins a number of independent financial advisory dealer groups that have put similar arrangements in place with Oasis, including Matrix Planning Solutions, Mentor Investment Services, and Strategy Portfolio.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
