PFS launches SRM product



Independent actuarial and financial services consultancy Professional Financial Solutions (PFS) has launched a new standard risk measure (SRM) service aimed at superannuation fund trustees.
According to PFS, superannuation trustees can use the web-based PFS Standard Risk Measure Model without charge, to calculate the 'standard risk measure' which must be reported for each investment option from 22 June next year.
The company said the PFS SRM model then produced a report that meets the new requirements, enabled trustees to demonstrate a robust process to the Australian Prudential Regulation Authority, provided an independent assessment of modelling provided by asset consultants and internal investment teams, and would be available 24/7.
It said the model used assumptions derived from a statistical analysis of the investment characteristics of nine different asset classes, and the relationships between those classes, based on decades of data.
PFS said it was also offering trustees the ability to use customised fund-specific asset allocation and investment assumptions.
Recommended for you
Australian retirees could increase their projected annual incomes by as much as 51 per cent through comprehensive financial advice, according to a Vanguard study, but cost continues to be an issue.
AMP has announced a senior appointment to its North leadership team, reinforcing the firm’s commitment to the advice industry.
Despite the financial adviser exam being rooted in ethics, two professional year advisers believe the lack of support and transparency from the regulator around the exam is unethical.
Despite having less growth potential than other assets, financial advisers have said cash allocations are providing a sense of comfort for clients, allowing them to ride out volatility without sacrificing their lifestyle.