Where to now: Australia’s advice industry at a tipping point?

From

Wade Matterson

After more than a decade working with Australia’s leading institutional players, Milliman is bringing its unique experience, sophisticated tools and big-picture thinking to bare for Australia’s advice community in an effort to markedly improve retirement outcomes.

Milliman Australia Practice Lead, Wade Matterson, acknowledged the entire industry is emerging from a bruising few months in the wake of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

“There’s no doubt we’re arrived at a tipping point for our industry,” said Practice Lead, Wade Matterson.

“The advice business must grow and develop in sophistication to match market expectations. Technology and big data will play a huge role in rebuilding trust and giving advisers new ways to understand and present advice to clients. Leveraging both now will be the differentiator between success and failure in future retirement outcomes as well as advice practices.”

On moving into the retail space, Mr Matterson said “Milliman’s investment solutions are based on data driven algorithms and research, that really support financial advisers to deliver superior client outcomes in a complex and fast-changing environment.”

Milliman sees the speed of the change as a clear opportunity to help shape the market by finding solutions to the biggest challenges facing advisers and their clients including managing sequencing and longevity risk.

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