Planners need to access wide expertise

financial planners financial planning trustee equity trustees

11 December 2013
| By Melina Gouveia |
image
image
expand image

Financial planners need to access a wider range of services to be relevant in meeting the increasingly complex financial management needs of Australians, according to Equity Trustees managing director Robin Burns.

He said the formation of business alliances and partnerships between trustee companies and financial planners would give their clients access to additional areas of expertise. This would allow planners to expand their service offering and bring them to a wider client base whilst addressing the changing financial needs of clients over their investment lifecycle.

"For individuals, continuation of service is an issue of ever-increasing importance as Australians seek support and advice throughout their various phases of retirement, as well as during their wealth accumulation years," Burns said.

He said Australians today had a life expectancy greater than their grandparents, which intensified the need for offering continuation in a range of financial services — especially in the areas of estate planning and aged care services.

"Retirees in particular need access to support services that range through matters like managing personal finance and estate affairs, negotiating the myriad of regulations that can enhance or damage wealth, setting up appropriate investment vehicles, finding suitable aged accommodation, and operating an enduring Power of Attorney," he says.

Through partnering with trustee companies, financial planners bring together the diverse skills needed to maintain and grow a personal estate and reduce investment risk to their clients, Burns said.

"Investors are finding that they can't be reliant on the skills and honesty of one person, but need access to a broad range of specialist skills and knowledge," he said.

 

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 3 weeks ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 3 weeks ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 3 weeks ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

1 week 3 days ago

The Reserve Bank of Australia's latest interest rate announcement has left punters disheartened on Melbourne Cup Day....

1 week 2 days ago

The Federal Court has given a verdict on ASIC’s case against Dixon Advisory director Paul Ryan which had alleged he breached his director duties....

1 week 1 day ago