Managed portfolios fit for post-FOFA
Australian Unity Personal Financial Services (AUPFS) clients will now have access to three multi-asset managed portfolios as part of a new range of managed portfolios added to the Federation Alliance platform.
Federation Alliance chief executive, Alan Kenny, said that initiatives for driving efficiency were the key to moving forward in a post-Future of Financial Advice (FOFA) environment.
"In a post-FOFA world, advisers need to be even clearer in relation to meeting their obligations," he said.
"There is a place for both institutional and independent platform models — the key for us is to give our advisers and clients the choice."
AUPFS chief executive, Steve Davis, agreed that efficiency of service and delivery should be the key target for advisers and planners moving forward.
"The administration for advisers significantly increased under the FOFA regime," he said.
"Helping advisers operate a more efficient practice is now even more important."
The launch of the new portfolios coincides with the recent unveiling of Federation Super and its addition to the AUPFS approved product list. The portfolios were now available as separately managed accounts (SMA) on the Federation platform.
"The SMA provides advisers with a streamlined way of providing consistent and transparent portfolio construction and rebalancing solutions to clients," Davis said.
"The Federation platform [is] a unique offer in the platform market."
AUTHOR
Hope William-Smith
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