Lifespan boosts MDA support with hire

Lifespan Financial Planning has appointed Brian Long as senior investment specialist – managed accounts and a member of the Lifespan Investment Committee.

Long’s previous leadership positions included head of retirement for NAB Wealth and JANA Investment Consulting, national manager retirement at Colonial First State, and head of wealth management – Pacific at Mercer.

Eugene Ardino, Lifespan chief executive, said the addition of Long was all about increased support for Lifespan advisers in meeting the changing needs of their clients.

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“Like Lifespan, Brian believes that there will be significant investment challenges in the future and as a result, advisers may seek to change client portfolios more frequently to respond to increased volatility and to take advantage of new investment opportunities,” Ardino said.

“Clients will also take an increased interest in understanding their investments. A focus on client education will be essential.

“Lifespan’s range of 30 model portfolios, available on three platforms, with more to come, and Brian’s considerable experience and expertise will greatly assist our advisers with their investment proposition and related client education needs.”

Long said one of the reasons he was attracted to Lifespan was its experience as a managed discretionary account (MDA) operator.

“Recent times have clearly highlighted the benefits of managed accounts to advice businesses and advisers, particularly when it comes to adapting to market volatility,” Long said.

“With an MDA, advisers can ensure investment decisions are more quickly implemented across the entirety of a client base to protect portfolios or take advantage of market opportunities.

“There are of course numerous efficiency benefits that are also gained by using MDA portfolios. The more advisers use MDAs the better it is for their clients and themselves.”

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ticket clipped.

When will ASIC look at these conflicted models? A licensee pretending to be, and charging as, an investment manager of an MDA/ SMA and then driving advisers to use the models through preferred remuneration terms as opposed to other client solutions.

agree. The worse part is you're almost an idiot if you don't use them, because commercially you are at disadvantage to your competitors - you're penalised by doing the right thing.

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