There is little doubt that disruption within the financial services industry is on its way and will exert considerable pressure upon businesses to keep up or be left behind. However, for savvy providers ready to use digital technology to simplify the consumer experience, it can present exciting new business opportunities. There is a lot of... MORE
Everyone acknowledges that SuperStream has imposed a significant burden on super funds and the pain won’t go away any time soon. The bulk of automated contributions processing and electronic communication between funds is still to be implemented and will involve significant effort from all parties in the next year or two. It’s valuable, though, to... MORE
Following on from my previous whitepaper on the top 10 trends in life insurance, and with the upcoming ASFA National Conference just around the corner, I thought it timely to look at the superannuation industry next. This whitepaper identifies 10 major trends in the Australian super industry and assesses their future impact on the sector.... MORE
George Osborne moves to end the 55% ‘death tax’ on pension pots in drawdown On Monday this week the Chancellor, George Osborne, announced at the Tory Party Conference further changes to the UK pensions landscape. This follows the radical pension freedom reforms announced in the March 2014 budget. The new move to scrap the 55%... MORE
In recent years, the pursuit of competitive advantage among wealth management companies has seen a shift in focus from good record keeping to the analysis and interpretation of those records to better understand and serve the customer. In today’s financial services landscape, achieving high integrity and highly secure record administration is a given, not a point... MORE
This year’s annual SMSF Professionals’ Association (SPAA) conference series provided a terrific opportunity for discussion and debate and it was interesting to hear the delegates’ views on where the opportunities lie to improve the industry and its operations. Key topics discussed ranged from in-house asset rules and related party transactions through to the ATO’s new... MORE
The interim report of the Financial System Inquiry (FSI) covered a wide range of topics relevant to the financial services industry at large. Of particular relevance to the wealth management sector was the suggestion that superannuation fees and charges remain too high. It’s important to remember that the full benefit of SuperStream reforms are yet... MORE
Increasingly, wealth management businesses are turning to managed services to deliver their administration software and underlying IT infrastructure. The managed services model sees the day-to-day management of an administration system outsourced to a specialist software vendor, leaving businesses free to focus on their strengths. In the past, IT solutions in wealth management typically evolved very... MORE
There has been recent discussion in the industry about the benefits of SuperStream. Are the efficiencies envisaged in the Cooper Review able to be realised? What benefits will actually flow to members over time? However SuperStream plays out, we can be assured that competitive pressures will continue as the industry consolidates, and members develop stronger... MORE
When it comes to selecting a wealth management software application, for many organisations the decision centres on functionality and price. As a key investment for the business, the software platform must be proven to perform to defined standards, and be priced at a level that enables the organisation to operate successfully and profitably, well into... MORE