WA advisory firm launches online investing solution
Perth-based advisory and accounting firm Pascoe Partners has launched an online investing solution to serve a broader number of clients.
Pascoe Partners Invest would offer access to four diversified investment portfolios covering a range of risk/return profiles and also include an ethical portfolio, all with a minimum investment of $5,000.
It would also provide a feed of financial wellbeing topics for its users.
The firm said it had decided to launch the service in order to offer assistance to those who did not require a full personal advice service, including the adult children of the firm’s high-net-worth clients who may be unable to afford upfront advice.
This include those where the firm may have helped set up a client’s self-managed superannuation fund (SMSF) but who do not need ongoing advice.
This was particularly timely as $3.5 trillion was expected to pass between generations as part of the transfer of intergenerational wealth, according to the Productivity Commission.
Director, Andras Hernadi, said: “As a well-established firm with offices in Perth and the Wheatbelt region of Western Australia, we have helped a very large number of clients establish their SMSF as a means to achieve long-term wealth creation and the best possible retirement.
“Not every SMSF client wants or needs our traditional personal advice experience, and yet they all appreciate the value of professional management of their SMSF’s assets.
“Now with Pascoe Partners Invest, we can offer a choice of solutions to all of the firm’s clients, and not have to turn away any prospective clients.”
The solution was being delivered in partnership with investment platform OpenInvest that is already working with firms such as Spark Advisory, Peak Investment Partners, and Lifespan Financial Planning.
OpenInvest head of distribution, Ravi Verma, said: “The rules around personal advice and the loss of advisers across the industry mean that firms wanting to reach and help the broadest possible audience can’t do so the traditional way, but need to leverage innovative technology. We’re proud to be playing our role in helping firms like Pascoe Partners to provide their professional expertise to more Australians.”
Last year, Peak Investment Partners launched an online investment solution called Peak Invest that offers access to the firm’s Australian Equities Growth Portfolio that invests in the ASX 300 and targets a long-term gross return of 7–8 per cent.
It also offers access to its International Growth Portfolio that invests in direct equities on the US and London exchanges from Q4.
AUTHOR
Laura Dew
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