Super funds in pole position for expanded adviceBY KARREN VERGARA | MONDAY, 26 FEB 2024 12:38PMSuperannuation funds will have a leg up over life insurers and banks once the federal government implements its proposal to expand financial advice. Related News |
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Matt Gaden
HEAD OF AUSTRALIA
JANUS HENDERSON INVESTORS (AUSTRALIA) LIMITED
JANUS HENDERSON INVESTORS (AUSTRALIA) LIMITED
Helping investors traverse financial markets and build their wealth during the peaks and troughs is Janus Henderson Investors head of Australia Matt Gaden's game plan. He tells Karren Vergara why in this long game of investing, active management wins.
An incredibly lop sided view of life from the FAAA as to whether banks will or will not re-enter the advice market. In truth, the FAAA has no idea what the banks will do. ( it's subjective at best ) Regurgitating history to suggest they won't return is a pretty shallow view of strategy given the want to serve clients better. The reality is that technology developments have enabled scaleable low cost 'personal advice' with all of the consumer protection protocols in place to become a reality. There are regulated providers with AFSLs issuing advice through an SoA already operating in the market and they make advice affordable and accessible - which the FAAA does not.
It seems to me the Super Funds and the Banks and some smart advisers and platforms (to wit, orphaned clients) will all consider the merits of this and as with all wealth providers, seek to provide a genuine trustworthy experience to their members or clients. Interesting to observe that the FAAA in it's continued pursuit of face to face advice (in defence of its client base) doesn't seem to be aware of the depth of the digital advice market already - which is surpassing the cliched views that it can't be done.