The Lonsec Retire Industry Panel has added four partners to provide financial advisers and clients with a global perspective in retirement strategies.
Joining the panel, AB Global, Invesco Australia, Investors Mutual, and State Street Global Advisors will give financial advisers access to expert views and analysis on key retirement issues facing investors, informed by developments in key global markets, including the US and the UK.
Lonsec general manager of investment consulting, Veronica Klaus, said "the global presence and expertise offered by our partners will provide advisers and other decision makers with a deeper understanding of the key trends and challenges relating to retirement".
Lonsec Retire is a collaboration between Lonsec and Milliman and its existing panellists are BT Investment Management, Colonial First State Investments, Macquarie Investment Management, and Plato Investment Management.
The future of superannuation policy remains uncertain, with further reforms potentially on the horizon as the Albanese government seeks to curb the use of superannuation as a bequest vehicle.
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.