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.
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