ANZ Wealth announces new portfolios for retirees
ANZ Wealth has announced its new model portfolios that will cater for the specific needs of retirees and which will be available through its aligned licensees.
The model portfolios, which were developed after consultation with Mercer Australia, would be constructed on the principle of diversification across asset classes. They would incorporate traditional and newer investment techniques such as low volatility equities, unconstrained fixed income, real assets, inflation-protective investments, and hedge fund alternatives.
With the Australian government's 2015 Intergenerational Report forecasting the rapid changes in the demographics, and with the number of Australians aged 65 years and older expected to more than double by 2055, ANZ Wealth noted that clients were increasingly concerned about outliving their retirement savings.
ANZ Wealth Australia general manager, aligned licensees, Darren Whereat, stressed that retirees were already a growing segment for the advice groups, currently making up more than 40 per cent of the overall client base, and that demographic shifts would place new pressures on the existing superannuation system.
"Access to quality financial advice will help Australians secure their future financial wellbeing, This is why we developed the model portfolios to ensure we are providing a solution that addresses the specific needs and concerns of retirees and will help them reach their retirement goals,"
"The market-based model portfolios can be tailored to individual's needs and risk profile. They can also be complemented by the aged pension and products like annuities, providing more certainty for retirees looking for a consistent income stream or concerned about outliving their savings," he said.
AUTHOR
Oksana Patron
Recommended for you
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
The second tranche of DBFO reforms has received strong support from superannuation funds and insurers, with a new class of advisers aimed to support Australians with their retirement planning.
The financial services technology firm has officially launched its digital advice and education solution for superannuation funds and other industry players.
