TitleHead of Manager Research
DateNovember 15, 2018
Financial advisers are now able to access investment research, encompassing clients’ whole of life needs, with the announcement by Lonsec of the inclusion of superannuation fund research in its iRate platform.
The research is provided by SuperRatings, Lonsec’s specialist superannuation product research team, which has provided in-depth superannuation fund benchmarking and research for over 20 years.
To date financial advisers have lacked an end-to-end investment research solution that provides superannuation fund research along with managed funds, equities, Separately Managed Accounts (SMAs), listed securities, and individual super fund investment options.
The inclusion of SuperRatings research in the Lonsec platform addresses this gap, giving advisers access to whole of cycle investment research that enables them to gain a full picture of their client’s portfolio while helping them address potential regulatory blind spots.
Lonsec CEO Charlie Haynes said it was critical for the advice industry to respond to the call for increased professionalism and stay ahead of the regulatory curve.
“Advisers are wary of superannuation advice becoming the next flashpoint in the ongoing push to professionalise the industry,” said Haynes. “Even well-educated and well-resourced advisers could end up in hot water if they cannot clearly show how their superannuation and investment advice is in the best interest of the client.”
Lonsec’s superannuation fund research allows advisers to efficiently compare more than 600 superannuation products across over 300 different fund characteristics based on the most extensive fund benchmarking survey conducted in the Australian market.
The aim is to make it easier for advisers to meet their best interest duty, especially when it comes to superannuation product switching, which requires the adviser to clearly explain how the change benefits the client.
“Justifying a particular product recommendation means being able to explain how it stacks up across a wide range of criteria, such as the member servicing environment, insurance coverage and cost, and fund governance and administration,” said Haynes.
“That’s why we’ve made this research available to advisers – to make it easier for them to gain a deeper understanding of super products and to satisfy themselves, their clients and the regulators that their recommendation is the right one.”
IMPORTANT NOTICE: This document is published by Lonsec Research Pty Ltd ABN 11 151 658 561, AFSL 421 445 (Lonsec). SuperRatings refers to SuperRatings Pty Ltd ABN 95 100 192 283, AFSL 311 880.
Please read the following before making any investment decision about any financial product mentioned in this document.
Warnings: Lonsec reserves the right to withdraw this document at any time and assumes no obligation to update this document after the date of publication. Past performance is not a reliable indicator of future performance. Any express or implied recommendation, rating, or advice presented in this document is a “class service” (as defined in the Financial Advisers Act 2008 (NZ)) or limited to “general advice” (as defined in the Corporations Act (C’th)) and based solely on consideration of data or the investment merits of the financial product(s) alone, without taking into account the investment objectives, financial situation and particular needs (“financial circumstances”) of any particular person.
Warnings and Disclosure in relation to particular products: If our general advice relates to the acquisition or possible acquisition or disposal or possible disposal of particular classes of assets or financial product(s), before making any decision the reader should obtain and consider more information, including the Investment Statement or Product Disclosure Statement and, where relevant, refer to Lonsec’s full research report for each financial product, including the disclosure notice. The reader must also consider whether it is personally appropriate in light of his or her financial circumstances or should seek further advice on its appropriateness. It is not a “personalised service” (as defined in the Financial Advisers Act 2008 (NZ)) and does not constitute a recommendation to purchase, hold, redeem or sell any financial product(s), and the reader should seek independent financial advice before investing in any financial product. Lonsec may receive a fee from Fund Manager or Product Issuer (s) for reviewing and rating individual financial product(s), using comprehensive and objective criteria. Lonsec may also receive fees from the Fund Manager or Financial Product Issuer (s) for subscribing to investment research content and services provided by Lonsec.
Disclaimer: This document is for the exclusive use of the person to whom it is provided by Lonsec and must not be used or relied upon by any other person. No representation, warranty or undertaking is given or made in relation to the accuracy or completeness of the information presented in this document, which is drawn from public information not verified by Lonsec. Conclusions, ratings and advice are reasonably held at the time of completion but subject to change without notice. Lonsec assumes no obligation to update this document following publication. Except for any liability which cannot be excluded, Lonsec, its directors, officers, employees and agents disclaim all liability for any error, inaccuracy, misstatement or omission, or any loss suffered through relying on the information.
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