Russell Investments announces new alliance approach
Russell Investments will partner with large investors and financial advice groups to offer a customised portfolio design service for individual investors, as part of its new ‘alliance approach' announced today.
Russell's new approach has been under development for the past two years and reflects its shift toward outcome-oriented, multi-asset investing, it said.
Russell global chief investment officer Peter Gunning said there was a paradigm shift underway in the way global and Australian investors were thinking.
The industry has moved away from trying to beat the herd and indices, to developing outcome-oriented portfolios based on an individual's personal financial situation and income needs.
A key focus for the local alliance program will be the development of retirement income solutions.
Russell has teamed up with Australian financial planning business Matrix Financial Planning to develop and launch Partnership Funds, a series of five actively-managed portfolios designed to give different outcomes.
Matrix managing director Rick Di Cristoforo said Matrix felt there was a better way to deliver solutions to clients.
"The global move towards outcome-oriented investing makes sense to our business and we have worked with Russell to build from the ground up a unique suite of solutions that we are confident will deliver for our clients, whatever the market environment," he said.
He said the partnership with Russell allowed its advisers to be privy to the workings and decision-making of the funds within a formal joint investment committee structure.
Russell's global presence, diligence around investment research and track record on implementation were key reasons behind the alliance, Di Cristoforo said.
Recommended for you
The corporate regulator has cancelled the AFSL of a Perth advice firm, with the firm having previously seen its licence temporarily suspended in 2020.
Having proposed changes earlier this year, ASIC has clarified how it will support licensees with additional relief under the reportable situations regime.
AMP has partnered with BlackRock and research house Lonsec to provide a model portfolio capability on its North platform that offers “portfolio customisation at scale” to advice practices of all sizes.
Money Management rounds up actions ASIC took against advice individuals in the first half for FY25 from exam falsifications to dishonest conduct.
