Ipac eyes off wealth accumulators
Ipac has developed a business model to help its planners and strategic partners service the wealth accumulator market.
Ipac has developed a business model to help its planners and strategic partners service the wealth accumulator market.
Dubbed the ipac wealth accumulator business model, the model includes products designed to meet the needs of the wealth accumulation market.
Ipac’s chief executive officer Peeyush Gupta says, “Gearing and life insurance are important for wealth accumulators and ipac can provide these products as part of our integrated offer to build long term relationships with clients in this segment.”
To that end, ipac has introduced two new products - the ipac margin loan, provided by the Commonwealth Bank and ipac life insurance, underwritten by American International Assurance (Australia).
Gupta says that most financial planning practices focus on retirees and lump-sum investors at the expense of wealth accumulators who are actually more in need of financial planning advice.
He believes this sector of the market requires advice in order to transform high incomes into long term wealth and therefore need products like margin loans and life insurance.
Ipac’s wealth accumulator business model is only available to ipac’s strategic partners and its own advisers, however the ipac margin loan and ipac life insurance are available to all financial planners.
AUTHOR
Recommended for you
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
WIth only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
As the government announces a public inquiry into the collapse of Dixon Advisory, risk adviser Richard Silberman has detailed the three areas that typically lead to an AFSL's collapse.
