Lonsec Research, in conjunction with actuarial consulting firm Milliman, has continued to invest in its Lonsec Retire Industry Panel with AMP Capital joining NAB Asset Management, Colonial First State, Macquarie Investment Management, BT Investment Management and Plato Investment Management in helping financial advisers navigate the challenges associated with retirement investment.
Lonsec Retire (www.lonsecretire.com.au) is an online portal designed to give practical solutions to help financial advisers provide more comprehensive advice to retiree clients.
Lukasz de Pourbaix, Lonsec’s General Manager – Investment Consulting, believes the funding of retiree pensions will be one of the greatest challenges facing the financial sector in the coming decades, with a continuing flood of baby boomers entering retirement.
“An increasing number of retirement products in the market, ongoing tinkering with the superannuation system, and changes to the age pension make post retirement investment a complex and ever-changing issue for advisers,” Mr de Pourbaix said.
Lonsec Retire aims to provide the tools and knowledge to help advisers better engage with clients on retirement. Advisers can use the portal to access three advice modules – Research, Solutions and the Industry Panel of asset managers.
The six members of the Industry Panel each commit to delivering subscribers unique insights and views on issues related to retirement planning.
“While much of the industry focus to date has been on the accumulation phase, there are many issues in the draw down phase that are important to consider. The Industry Panel is a unique platform that looks to engage the broader market in tackling these issues as well as help build and broaden understanding among advisers and their clients,” Mr de Pourbaix said.
“We don’t have all the answers and the Industry Panel is our way of increasing knowledge around the issues of investing in the retirement phase.”
Milliman’s Australian financial risk management practice leader, Wade Matterson, said the addition of AMP Capital will give financial advisers access to an even greater collection of advice and solutions on retirement planning.
“It is recognition of the importance of this issue for advisers, and the broader financial services sector, that we have some of Australia’s largest and most innovative financial institutions contributing to the portal,” Mr Matterson said.
“It is important we have an open dialogue about the many issues facing our aging population and support financial advisers who are the front line of this discussion.”
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