POWERED BY MOMENTUM MEDIA
Lonsec and Milliman team up to tackle retiree advice
Research house Lonsec has entered into a partnership with global actuarial and consulting firm Milliman to develop a new retiree advice service for financial advisers, superannuation funds and institutions.
The partnership will unite Lonsec's portfolio construction processes and established relationships with financial advisers with Milliman's expertise, to provide retirement advice to institutions, the companies said in a statement.
It said it would "provide extensive insight, as well as a solution-set that is closely aligned to the challenges facing Australian advisers in a post-Future of Financial Advice environment and which also meets the needs of superannuation funds and institutions".
The announcement cited a white-paper the pair co-authored last year, which contended that the current financial advice model was sub-optimal in meeting the changing goals and needs of retirees.
It said that white paper — entitled ‘Boomers, Herding, Denial and Zeitgeist: Who will be First to Grasp the Post-Retirement Advice Opportunity?' — had challenged "some commonly used approaches to managing post-retirement portfolios".
"It also provides insight into the direction Lonsec and Milliman believe the advice process and the portfolio construction approach should be heading," the announcement said.
The announcement said the two companies believed that future success in funds management and financial advice would hinge on "genuinely responding to the needs of retirees".
The venture said further initiatives were planned to address, in detail, specific post-retirement investment issues that would offer progress towards timely solutions.
Recommended for you
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.
The fund has launched a new tool to help deliver personalised financial education and digital personal advice to eligible members.
The QAR lead reviewer has told a Senate committee that the government’s demands of super funds conflict with their original purpose.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
