It’s time to focus on the end game…

With so much industry, consumer and regulatory change on at the moment, many firms may benefit from taking a step back and looking at what is going on, and consider the end game (or at least as far as one can see at the moment). Some of the constants are: that to be in business, one must [...]

By | October 22nd, 2019|Being In Business of Wealth Management|0 Comments

EY Banking and Financial Services Royal Commission Briefing – Some Key Points

Congratulations EY on a to the point and informative web briefing on the Banking and Financial Services Royal Commission. Some really key points that I noted that are relevant in wealth management: Fee for service threatened viability Oversight controls mandatory - significant compliance hcllenge Opportunity for independent quality robust models Value of advice questioned Non-tolerance [...]

By | October 9th, 2019|Being In Business of Wealth Management|0 Comments

What is the regulatory impact of increased consumer involvement ?

We are living in a world where the level of acceptability of servicing of consumers is increasingly being defined by the consumers themselves, which is suggesting more consumer involvement in regulation. Are our systems, processes and those who regulate prepared for this increased involvement, and who may step in if they don't ?

What does the future of wealth management have to do with pioneering of powered flight?

  The introduction of powered flight was a major innovation and was achieved through a significant change in thinking of both what the problem was and the skill sets that actually got the successful group there first. At the time there was no real precedent in terms of innovation that could be used to base [...]

PwC Wealth Report

Some really good themes and content in the PwC report at https://www.pwc.com.au/publications/pdf/avm-aj-25-october.pdf  

RegTech : Helping Compliance Go From ‘Policeman’ to ‘Coach’

A really fascinating and insightful session at the ASIC RegTech round table earlier this week in Sydney, Australia. One key thing I took away from the session is that in many peoples eyes, Regtech is part of the genesis of the next generation of financial services operating models with benefits not only in reducing the [...]

By | February 10th, 2017|Being In Business of Wealth Management|0 Comments

Voices 2017 in wealth management: Top trends in the coming year for financial planners

Some good perspective in this article that I suspect will become increasingly relevant throughout the year as the consumer and regulatory tightening on the industry takes increased effect. http://www.accountingtoday.com/opinion/2017-in-wealth-management-top-trends-in-the-coming-year-for-financial-planners  

By | February 3rd, 2017|Being In Business of Wealth Management|0 Comments

Accountants and Advisers – The new Investments Proposition

There are two trends that are becoming increasingly prominent across wealth management and investing, and neither is showing any sign of slow down. These are: Investment solutions are to be more about the client than about the product Costs and margin pressure on the provision of everything but the 'human to human' interaction, ie the [...]

By | November 17th, 2016|Being In Business of Wealth Management|0 Comments

Portfolio Management : Advisory vs Discretionary, The Pros and Cons are Changing

In many of the groups that I visit around the world, we find that they have a portfolio proposition that is either advisory, discretionary, or perhaps have both. What I find interesting though is why their propositions are such and whether they are open minded to the alternatives. In the advisory proposition camp, we often [...]

Digital Termites and Wealth Management

In the late 1990s, I used to work for an innovative company called 'Open Market' which pioneered both ideas and technologies about the commercial use of the Internet, much of which has evolved and become commonplace today. One of the themes that the President Shikar Gosch introduced was the idea of 'Digital Termites' and 'Termiting' [...]