Emma Sakellaris

Australia stands on the cusp of a massive intergenerational wealth transfer that will have enormous ramifications for the Australian economy, says investment bond specialist Foresters Financial in its latest White Paper, The Great Wealth Transfer.

Addressing the predicted $3.5 trillion wealth transfer by 2050, the White Paper focuses on the multifaceted challenges and opportunities created by this monumental wealth transfer for families, the economy, and society.

With analysis of key areas such as housing affordability, educational opportunities, and debt reduction, it offers invaluable insights into the socio-economic changes that will accompany this wealth transfer.

Foresters Financial CEO, Emma Sakellaris, emphasises the importance of understanding the implications of this wealth transfer. “Take women as an example. As behavioural finance studies indicate, women manage money differently to men, exhibiting tendencies such as saving more, displaying a property bias, prioritising ethics, and taking less risk, so their securing access to some of this wealth will be a significant game-changer.”

“It will also bring inevitable challenges, particularly with the rise of blended families and inheritance disputes. Even in traditional family structures, complexities emerge, underscoring the need for careful planning and proactive solutions.”

The White Paper sheds light on the concerning reality that many beneficiaries lack financial literacy. Sakellaris says: “The scale of this wealth transfer exposes the stark reality that there is an urgent need for accessible financial planning and improved education to ensure all Australians can navigate this transition effectively. Proactive estate planning is key to safeguarding assets and preserving familial harmony and protection of generational legacies.”

The White Paper attached considers the following in detail:

• challenges and opportunities in the context of the economy
• population growth and fertility rates
• changes in retirement trends and superannuation
• education bonds offer an option for older generations looking to leave an educational legacy for the next generation.

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Emma Sakellaris

The member-owned financial services group Foresters Financial has expanded the reach of its Education Bond with its launch on Tanggram, Australia’s first mobile investment platform that combines a rewards scheme with capital reliable investments.

Foresters Financial CEO Emma Sakellaris says it’s an exciting development for the recently launched Education Bond, taking it to a younger investor cohort dominated by women.

“The Tanggram investment app – was launched in 2020 and has about 70,000 subscribers – has a user profile that was very enticing for us. The average age of users is 32 of which 90 per cent fall between the ages of 20 and 40. In addition, with 80 per cent being female investors, it’s obviously a demographic that we believe will be attracted to the Education Bond. 

“Foresters current target market for the Education Bond are high-net-wealth investors who tend to be older. With the Tangram investment app, we believe we have a complementary strategy to tap into a new consumer market of younger, tech-savvy investors.

“Certainly, we are convinced that Tanggram, fintech pioneers in this space, is the correct investment avenue to reach this audience.”

The Education Bond offers a tax-effective avenue for families to save for and fund their children’s education, whether it be tuition fees, accommodation, travel, or equipment. It also offers flexibility via tax benefits, estate planning and generational wealth transfer.

The tax-effective benefit is made possible through the bond working as a “scholarship plan” that allows the bond administrator to obtain a tax deduction, which is passed on to the investor when they withdraw earnings to pay for educational costs. 

Sakellaris says: “An education bond allows for a long-term savings plan for families to plan and invest in their future generations educational outcomes, capabilities and reduce financial stress.”

Tanggram Founder and CEO Nick Tang says:  I’m absolutely delighted to participate in this ground-breaking partnership between Foresters Financial and Tanggram.

“Tanggram is an award-winning smart wealth creating app designed to provide users with reliable returns and monthly income, while Foresters is steadfastly committed to delivering secure and sustainable fund management solutions for individuals across all stages of life.

“Among their outstanding offerings, the Education Bond stands out as a brilliant avenue for funding education costs. I truly believe that our shared commitment to gain, grow and secure wealth will pave the way for a new era in wealth building.”

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Michael McQueen

Foresters Financial, a member-owned financial services company servicing members and investment communities, is urging investors to consider their Sustainable investment options as a mechanism to contribute to a better future for all Australians.

Whilst direct access to products such as green bonds is still relatively limited in Australia, Foresters’ Sustainable bond products include exposure to green bonds, with a minimum investment of only $500. Foresters’ believe this accessibility will further ‘open up’ this market, giving more investors the opportunity to “go green” without the hassle of direct investing.

Foresters CIO Michael McQueen says although the Australian green bond market lags its European counterparts, he expects it to grow strongly in response to increasing demand for environmentally sound investments.

“We fully support giving retirees and older Australians the opportunity to invest in sustainable products as easily as they can access term deposits’.

“Research by National Seniors Australia shows that there is pent up demand among this cohort to invest responsibly, and Foresters’ range of Sustainable investment options can help.

“Not only will this let them to give back to the next generation by helping finance the transition to net zero emissions, but it will give them greater diversification than conventional savings accounts and term deposits, which still do not offer any responsible or sustainable overlays.

McQueen, who invested in the inaugural green term deposit, or ESG TD, launched by the Commonwealth Bank in late 2021, says there is growing demand for sustainable investment options across the spectrum of financial services.

“Our sustainable options are globally diversified, multi-asset class portfolios invested across growth and defensive assets, such as shares, property, credit and fixed income.”

Foresters is the only provider of investment bonds that offer members a sustainable option across all its bond products – funeral, education, and investment.

“Our members accessing these products can take comfort in the knowledge that every dollar they invest will be aligned with our responsible investment policy.

“We have seen significant growth in our Sustainable Funeral Bond, with its member base more than doubling and its funds under management more than trebling in the 2023 financial year. In the last quarter of that financial year, nearly $1 in every $4 invested in a funeral bond was directed towards the sustainable option.

The Sustainable Funeral Bond generated a return of 7.3 per cent in 2023 net of fees and taxes.

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Emma Sakellaris

Foresters Financial, a member-owned financial services company providing investment bond solutions for investors seeking better ways to grow, protect and transition family wealth has expanded its offering with the launch of a new Education Bond.

The Education Bond, available from today offers a tax-effective avenue for families of all situations to save for and fund their children’s education. The Education Bond helps to reduce the stress on the family budget, and provides convenient access to savings when you need it.

Foresters Financial CEO Emma Sakellaris said: “Financial pressures are felt immensely at the moment, and we have identified education as a key issue for parents and grandparents wanting to provide a viable long-term solution.

“A key additional aspect of education bonds is the variety of ways it can be used and the flexibility it provides, including tax benefits, estate planning and generational transfer of wealth capabilities. Families can access funds at any time and can use it to claim anything associated with education. Whether that be anything from tuition fees, accommodation, travel, and equipment.”

The tax-effective benefit is made possible through the bond working as a ‘scholarship plan’ that allows the bond administrator to obtain a tax deduction, which is passed onto the investor when they withdraw earnings to pay for the education costs. 

The new Foresters Financial Education Bond provides flexibility to investors such as the ability to appoint alternative beneficiaries, and for others to contribute, providing inclusion to blended families, grandparents, relatives and/or friends.

Sakellaris concluded with, “The rising cost of living and education fees has subsequently had a flow on effect, impacting the ability for families to finance their children’s education which then impacts their abilities entering the ever-competitive job market.

“An education bond allows for a long-term savings plan for families to plan and invest in their future generations educational outcomes, capabilities and reduce financial stress.”

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Michael McQueen

Foresters Financial, a member-owned financial services company providing investment bond solutions for investors seeking better ways to grow, protect and transition family wealth, and to protect intergenerational legacies, has expanded its executive team with the appointment of Michael McQueen as Chief Investment Officer.

McQueen brings 15 years’ experience in financial services to Foresters, most recently in the role of CIO at Media Super where he was deeply involved in successfully delivering the merger with Cbus and overseeing the transfer of members’ retirement savings.

Prior to this, McQueen held positions as Head of Investment Strategy at LUCRF Super (now a part of AustralianSuper) and acting CIO at Kinetic Super during its merger with Sunsuper (now known as Australian Retirement Trust).

Foresters Financial CEO Emma Sakellaris said: “We are simply delighted that Michael has joined our business as we continue to deepen and strengthen our relationships with our referral partners, investors and their families, over multiple generations.

“As a firm we are heading into a period of substantial growth, with several exciting announcements in the coming months, so the addition of Michael comes at a pivotal and opportune time.”

McQueen said: “Foresters Financial has an incredible story and legacy as one of the oldest and purest investment bond managers in the market, so the decision to join and play a role in its future success was easy to make.

“I am excited by what the next stage holds for Foresters Financial as the market and regulatory changes allow for further growth and expansion.”

Alongside his extensive experience as an investment executive across superannuation, wealth management and funds management, McQueen was an equities dealer and analyst working for several large well-known companies such as Goldman Sachs, ANZ Banking and ANZ Trustees.

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Maryanne Mullahy

Member-owned financial services specialist, Foresters Financial (Foresters), has appointed Maryanne Mullahy to the newly created role of technical and training manager. Mullahy will be based in Melbourne and will support partners Australia-wide.

Mullahy has more than 14 years’ experience in the superannuation and wealth management, covering consultancy and client services at senior levels.

She joins Foresters from Praemium where she was the manager of separately managed accounts (SMA) administration. In this role she was responsible for leading and managing the SMA team to deliver high quality wealth and superannuation administration. Prior to Praemium, Mullahy held a senior customer service representative role with Netwealth Investments.

She also has experience as a superannuation consultant at Vision Super and a member education consultant and paraplanner at ESSSuper.

Emma Sakellaris, Foresters CEO, says Mullahy’s appointment comes at a time of significant national growth for Foresters, and the new role will be key to growing its already strong referral partner engagement program.

“Maryanne’s experience in consultancy and client service, along with her expertise in providing education and training to a variety of stakeholders, will stand her in good stead as she provides a high level of systems training for our referral partners.

“With her ability to break down complex information in a clear and easy to understand manner, she will provide our partners the right support and tools they need to articulate product offerings and value propositions with accuracy and clarity.

“Maryanne’s skill set will be a great asset to the team, and will prove invaluable as she works with, and strengthens, Forester’s referral partner engagement,” Sakellaris says.

Mullahy has a Bachelor of Science from Monash University, and a Regulatory Guide qualification from the Association of Superannuation Funds of Australia (ASFA). She also holds an accreditation in Post Retirement Course from ASFA.

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Mr Hanigan has 20 years’ experience in financial services and risk related roles. He most recently worked in risk and compliance at IOOF and NAB as a senior risk partner. Prior to this he spent 12 years at Tasplan Super in various compliance and company secretarial roles, and was appointed chief risk officer in 2019.

He has also worked as a financial planner with Tasmania Perpetual Trustees, and as an area manager with Hostplus.

He has been a non executive director of the Governance Institute of Australia since June 2021.

Ms Sakellaris said Mr Hanigan’s breadth of experience in financial services and risk related positions make him a good fit for the Foresters business.

“Greg is a proven performer with a solid track record. His experience spans leading the governance, risk and compliance functions, as well as overseeing an in-house administration and call centre operation, a financial advice business, and a commercial lending business.

“The chief risk officer position is a pivotal one that plays a critical role in guiding and influencing business decisions. Greg’s experience in senior risk roles with some of Australia’s leading organisations means he is well placed to take on this responsibility.

“In particular, his experience at Tasplan Super in providing leadership through periods of significant change and complexity through three fund mergers to enable the evolution of a highly engaged and productive team is an impressive achievement.”

Mr Hanigan has a Bachelor of Commerce, University of New England, is a Fellow of the Governance Institute of Australia, and a Graduate of the Australian Institute of Company Directors. He also has an Advanced Diploma of Financial Services (Financial Planning) and a Certificate in Governance Practice from the Governance Institute of Australia.

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Jenny Liakopoulos

Member-owned financial services specialist, Foresters Financial (Foresters), has appointed Jenny Liakopoulos to the newly created role of head of partnerships. Ms Liakopoulos will be based in Melbourne and will report to chief executive officer, Emma Sakellaris.

Ms Liakopoulos has more than 15 years’ experience in financial services, including in business development, client relationship management, and project management.

She joins Foresters from Career Money Life (CML) where she was head of client development. In this role she was responsible for building client relationships and outbound sales. Prior to working with CML, Ms Liakopoulos was director of client experience at Audrey Page & Associates.

She has also had experience as a sales and marketing leader in AMP’s wealth management division and she spent six years at ipac as a principal consultant and national sales manager.

Ms Sakellaris said Ms Liakopoulos’ appointment comes at a key time in Foresters development as it moves to expand its reach and offering in the Australian market.

“Jenny is an accomplished business development professional, who excels at driving sales and cultivating and maintaining strategic client relationships.

“With her cross-sector experience in telecommunications, HR consulting, and finance, she brings an impressive breadth of knowledge and skills to the role.

“Jenny’s proven track record in identifying new business opportunities and leading effective sales teams to capture market share, along with her  passion to help people to build their wealth make her a valuable addition to the team,” Ms Sakellaris said.

Ms Liakopoulos has a Bachelor in Behavioural Science from La Trobe University, and a Graduate Diploma in Applied and Organisational Psychology from Victoria University.

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