The expansion of the client base beyond the superannuation industry has helped asset consulting firm, Frontier Advisors, to achieve the highest score of all consultants in the overall relationship strength index in the Peter Lee Associates Investment Management survey.
The firm said over the last few years it managed to expand its client base both in number and background, with around one third of the firm’s clients now coming from outside of the industry superannuation sector.
Frontier has also now a group of tech subscribers who engage with the adviser purely through their research and analytics platform.
Frontier has been also ranked high both in overall terms and against specific metrics covered by the study, which gathered the opinion of more than 100 senior Australian institutional investors and aimed to provide an independent assessment of the asset consulting sector as part of a broader view of the overall investment management landscape in Australia.
According to the study, the company was ranked first in nine out of thirteen individual categories.
Frontier’s chief executive, Andrew Polson, said that he was especially proud to lead the market in key areas such as investment strategy, technology and consultant capability and that we had a particularly strong result.
“We have focussed on ensuring we maintain high standards of client service and advice while growing our client base. Our team has worked very hard to achieve a high level of alignment and trust with our clients and it’s terrific to see that dedication is recognised,” he said.
Superannuation funds will have two options for charging fees for the advice provided by the new class of adviser.
The proposed reforms have been described as a key step towards delivering better products and retirement experiences for members, with many noting financial advice remains the “urgent missing piece” of the puzzle.
APRA’s latest data has revealed that superannuation funds spent $1.3 billion on advice fees, with the vast majority sent to external financial advisers.
Cbus Super has unveiled Advice Essentials Plus, a new service offering affordable financial advice to both members and their partners.